On Nov 8, 12:36 pm, Phil Gardner wrote:
I know this is a bit OT but
I am about to exchange contracts on my first buy to let property in
the next 3 weeks and im getting cold feet.

I have re-mortgaged my house to release the equity to pay for this its
something I have always wanted to do.

Due to the turmoil in the housing and finance market I am beginning to
question my judgment and timing
Is anyone on this forum in this business that could offer advice.

Re-mortgaging was a *bad* move.

You need to get a BTL mortgage on the rental property ASAP. Otherwise
you are not allowed to offset the interest payments against rental and
will be taxed on the full value of the rental payments. Having a
mortgage on the BTL property is like borrowing money to run a
business. If you remortgage your home, you are deemed to be using your
own capital rather than a loan.

Did you take any advice before starting down this road?

MBQ