Hi all,
First post here! I'm living in Dublin and I have c. €200k equity in my €300k house. I want to release c. €140k and buy to let in Cologne. Does anyone know the tax implications on my rental income from the flat if I obtain my funds entirely in Ireland (I have a 3.0% APR mortgage as opposed to app. 4.0% in Germany)?

I've heard that I can only deduct interest paid on a mortgage secured IN GERMANY from my tax liability on the rental income, is this true?

Thanks for any help, I'm having some difficulty getting to the bottom of this!