I own a flat which is tenanted at £1,700 a month. At the moment, it is on an interest-only mortgage of around £800 per month. Given the changes to the tax law in April 2017, is it worth moving to a capital repayment mortgage? I intend to keep the property and not sell (unless circumstances change drastically). What other options can I consider?

Arthur Weller replies:
Given the changes to allowability of interest paid against rental income from Apr 2017, it will not make a difference in the short term moving from an interest-only mortgage to a capital repayment mortgage. However, in the long term it will, because you will have paid off your mortgage earlier, and when the mortgage is paid off these new rules will no longer affect you.