Good evening,
I am about to embark on my first IP and have been lurking around this site for months devouring every snippet of info.
Have got pre-approval sorted and am chomping at the bit.
I was made aware last week that I am able to Salary Sacrifice 50% of my wages into the loan account which will service my IP. Have made contact with the SS company and they have set the account up already - just need details of the loan account to set the ball rolling.
Question......surely there will be some fly in the ointment.
I cannot believe the taxman will allow me to use a large bulk of my wages tax free to fund the IP and then let me offset the interest payments at the other end.
Answers on a postcard please.
I am about to embark on my first IP and have been lurking around this site for months devouring every snippet of info.
Have got pre-approval sorted and am chomping at the bit.
I was made aware last week that I am able to Salary Sacrifice 50% of my wages into the loan account which will service my IP. Have made contact with the SS company and they have set the account up already - just need details of the loan account to set the ball rolling.
Question......surely there will be some fly in the ointment.
I cannot believe the taxman will allow me to use a large bulk of my wages tax free to fund the IP and then let me offset the interest payments at the other end.
Answers on a postcard please.