We are looking at moving, and are wondering whether to keep our current house, get a buy to let mortgage on it and rent it out, rather than sell it.

The idea would be to keep it for 2-3 years to take advantage of the capital gains tax exemption (assuming any further property value increase) for the three years following moving out and then sell it.

The question is around interest offset against rental income. We currently have no mortgage on the current property. Is there any way we can raise a buy to let mortgage on it (effectively to release the cash needed for the deposit, etc. on the new place) and offset mortgage interest against the rental income to reduce the income tax bill?