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A lot or a little, the point is if tax bill goes up, feels like a tax increase / new tax and that's what it will look like when that money has gone from your bank account to the tax man / woman Second, if in 8 years from now when the full removal is proposed to have occurred, and if you have £300k outstanding on your loan at that time, with interest at 5% /annum, you will pay £3000 per year more tax from this proposal every year for the remainder of your mortgage (on a slightly decreasing basis as your balance reduces). Unlike in the past, not many of us think that the loans will be inflated away such that the £3000 in 8 years will feel like a couple of hundred pounds now. For some people, maybe £3000 per year in 8 years can be shrugged off - but those people are likely the exception. So this is for many, a very sizeable tax bill increase coming down the track and you cannot just will it away - it drops out of the maths!