Cabinet ministers who have taken on mortgages on buy to let properties

Request

Do you know how many MPs in the cabinet (current government, including cabinet members that have lost their cabinet position, their spouses and children) have remortgaged or taken a new mortgage on their "buy to let" properties to take advantage of historically low interest rates?


Response

IPSA does not hold the information that you request.

As you may be aware, IPSA abolished the mortgage interest subsidy available to MPs when introducing the new MPs’ Scheme of Business Costs and Expenses (‘the Scheme’) in 2010.  The new Scheme contained transitional arrangements for returning MPs, including a process to recoup for the taxpayer an appropriate level of any capital gain made, details of which are available on our website. 

These arrangements expired in August 2012 and IPSA no longer administers any expenses related to mortgages of properties owned by Members of Parliament.

Ref:
F1314-135
Disclosure:
October 8, 2013
Categories:
MPs' ACCOMMODATION
Exemptions Applied:
None