Donald Trump's campaign for president on Wednesday proposed raising the interest rates on some home loans to as much as 15 percent.The Trump Mortgage Bank, a subsidiary of his campaign, is the first big mortgage lender to go ahead with such a plan.The move comes after Trump, who has proposed closing the so-called revolving door between Wall Street and the White House, said in a recent interview th...
You have a huge debt to pay off, and you can’t pay it off right now.
That means you need to apply to the bank to get a mortgage interest deduction.
There are a few things to note about this.
It’s not possible to deduct the cost of a mortgage from your salary or the value of your home.
It doesn’t matter if you’re in the middle of a renovation, or a new house has been built.
It also doesn’t change if you have other debts, such as rent.
The loan interest deduction only applies to mortgages that are a maximum of 3 years old.
It will only be available to the owner of a property that is worth at least £500,000.
That could mean that you’re paying a mortgage off in a short period of time, or you’re just trying to save some cash.
But there’s one catch.
You can only get a deduction for the first three years of a loan.
It can’t be a longer-term mortgage, or any other type of loan that is a loan that will be repaid after five years.
You also need to prove that you can afford the mortgage, but don’t worry, you won’t be charged interest if you do get a loan deduction.
Here’s everything you need in one easy-to-understand infographic.
The calculator is free and works with the popular UK mortgage calculator.