sterling v euro mortgage?

[maggimay]

Am buying a property in england, not really sure if I would be better taking out a mortgage on my own home (no mortgage at present), or to raise the mortgage on the english property in Sterlng. Intend to rent out the property. Does it make any difference to tax relief which property the mortgage is on? Am intending to get an interest only mortgage. Hope you can shed some light for me.

 

[lopin10]

To get advantage of tax relief you must mortgage investment property releasing equity from your home to buy for cash is not a wise move