Reinstate tax relief allowing mortgage interest to be set against rental income

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Reinstate tax relief allowing mortgage interest to be set against rental income

Petition Details

Due to the Government mini budget failures and other economic factors, interest rates have risen at the fastest rate in recent history.

Additional Information

There are a lot of fixed rate mortgages which will end this year. Those home owners are coming out of historically low interest rates to the highest in recent times.

We can’t keep raising rents every month so a lot of rents won’t even cover the new mortgage. Many landlords have another job as a main income which means that we need to pay higher tax on a rent where we might not have even earned a penny of profit. This could force many landlords to sell properties which could reduce the availability of rental properties and push rent prices even higher. Please reinstate tax relief until mortgage interest rates come down.

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