How To Get A Good Plumber

I recently got married and live with my wife in a property owned by her. I still own another property myself which I had lived in for 10 years before moving in with her, and have been renting it out for the last few months. I have paid off the mortgage on my property, but we currently have one running on my wife’s (our current home). The term on this is about to expire so I believe it will be tax efficient to remortgage my rented property instead and pay off our current mortgage, thereby enabling me to claim tax relief on mortgage interest. My salary (ie not including rental income) alone will certainly be enough to cover this mortage.

- Do I have to take out a buy-to-let mortgage on my property, or will a standard residencial one suffice? (a mortgage broker i spoke to said a residencial mortgage would be fine as i will not need to the rent to cover payments, but i’m not convinced this is right)
- Can I claim tax relief on the full mortgage amount, or just up to the original purchase price? (it is worth a lot more now than when i bought it)
- Is there anything better I could do from a tax saving perspective? (My wife is in a lower tax band than me)

Any suggestions would be greatly appreciated.

Talk soon,
Joe Beaven

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