Big Problem- Can't draw direct from loan acc for deposit

Oh no I mean the interest on the loan that those funds have come from I may not be able to deduct as the funds will not come straight from the loan they will make a detour to another account in order for me to withdraw them (it was an equity release where ei got the deposit funds from)

 

If it's an equity release you are paying g interest on and the funds are used for an IP deposit then i dont see how it won't be deductible even if it has to go to another account first.

you will still be a) borrowing money against equity in an existing property and paying interest; and b) using it to invest

 

I thought that too however from everything I read on here it seems otherwise. I thought as long as I keep a paper trail it could be okay

 

what's stopping you from getting specific, paid for advice? remove the uncertainty

 

Yes, I am using one of the accountants on here. Will ring him on Monday to clarify but he did say to me that the chain of funds is important and should come direct from the loan account or credit card, however was not possible to have it from the loan account as the 5k daily limit got in the way, and the REA does not accept C/Cards