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i am about to but a house for my parents they are putting up…

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i am about to but...
i am about to but a house for my parents they are putting up 100k I will be getting a mortgage for 70k. Will I be better of getting an extension on my present mortgage or getting a new mortgage under tax laws
Submitted: 8 years ago.Category: UK Tax
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Answered in 7 minutes by:
6/22/2010
UK Tax Professional: Tony Tax, Tax Consultant replied 8 years ago
Tony Tax
Tony Tax, Tax Consultant
Category: UK Tax
Satisfied Customers: 15,995
Experience: Inc Tax, CGT, Corp Tax, IHT, VAT.
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Since you won't get tax relief for the interest you pay on the £70,000 mortgage it makes no difference how you do it.

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