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Budget Mortgage Relief Calculator

Find out what the Government's new tax changes could mean for you.

Outstanding mortgage
£628,000
£0£250,000£500,000£750,000£1,000,000
Mortgage rate
3.74%
1%2%3%4%5%
Rental Income
£27K
£0K£25K£50K£75K£100K

2016/17

2017/18

2018/19

2019/20

2020/21

Mortgage Interest

£23,487

£23,487

£23,487

£23,487

£23,487

Interest cost available for reduction

£0

Reduction: 0%

£5,872

Reduction: 25%

£11,744

Reduction: 50%

£17,615

Reduction: 75%

£23,487

Reduction: 100%

Tax relief (20% reduction)

£0

£1,174

£2,349

£3,523

£4,697

Taxable Profit

£3,513

£9,385

£15,256

£21,128

£27,000

This calculation solely illustrates the impact of the restriction of mortgage interest relief.

How will you offset this change?

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