Remortgaging saves Tax in UK

Another reason for Remortgaging is that the savings you make on interest payments are in effect much more because the interest payments have had tax paid on them. This didn’t used to be the case when the government offered mortgage tax relief for married couples. Basically if you were saving £189 per month then this is the equivalent of £242 a month before tax. If you are paying tax at the higher rate of 40% the importance of saving mortgage repayments are even higher.

 

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