Do you get Interest tax relief on equity withdrawal

This is one of the most common questions I am asked to clarify regarding property is the tax relief on the interest payments made on equity withdrawn from property. So I first asked my accountant who gave me this response I asked: - It is my understanding that interest on any equity withdrawn via remortgage/further advance from Buy to Let property is NOT tax deductible if it is spent for personal use - eg. holidays/car/clothes etc. I'm led to believe that the interest IS deductible if the withdrawn equity is reinvested in further BTL property. Here is his answer: - The statement is basically ... Read Full Story