Two and a bit years ago I purchased three houses that I now let out to 
tenants.

At the time I obtained a three year fixed rate buy to let mortgage and this 
is soon to come to an end.

Since there is likely to be a sizeable "arrangement fee" for me to set up a 
new fixed rate, can I set this fee against my rental income?

John

John wrote:

> Two and a bit years ago I purchased three houses that I now let out to
> tenants.
> 
> At the time I obtained a three year fixed rate buy to let mortgage and
> this is soon to come to an end.
> 
> Since there is likely to be a sizeable "arrangement fee" for me to set up
> a new fixed rate, can I set this fee against my rental income?

Yes.  Like interest, it goes in as "finance charges".

On 30 Jul, 17:57, Ronald Raygun <no.s...@localhost.localdomain> wrote:
> John wrote:
> > Two and a bit years ago I purchased three houses that I now let out to
> > tenants.
>
> > At the time I obtained a three year fixed rate buy to let mortgage and
> > this is soon to come to an end.
>
> > Since there is likely to be a sizeable "arrangement fee" for me to set up
> > a new fixed rate, can I set this fee against my rental income?
>
> Yes.  Like interest, it goes in as "finance charges".

The Nationwide say house prices are back at August 2006 values.

http://www.nationwide.co.uk/hpi/historical/July_2008.pdf

I reckon then that after the cost of buying in and selling out the OP
is already likely to be in capital loss or negative equity territory.
Provided his Cash Flow continues he can persevere, but is anyone's job
safe - either his or his tenants - with so many companies turning in
such dramatic figures? With the cost of everything - especially fuel -
increasing so enormously?

And if people like him - who are by no means the riskiest who pass
through this ng - are threatening to bring their lender crashing down,
I reckon we have a few more months of the economic "Perfect Storm" to
endure.