Bullet loan on second property feasible

In connection with bullet loans, it is often mentioned that these make the most sense when they are taken out on a property used as an investment?

Is there a chance to refinance a bullet loan that is currently secured by a life insurance policy onto a second property that belongs to the borrower but is not rented out because the borrower's parents have registered a lifelong free right of residence in this property?

Could the interest still somehow be deducted? Or does that only work in connection with rental income?

Hi,

since no rental income is coming in, there is neither an intention to make a profit nor an intention to generate income.
A deduction of the costs is therefore excluded.
You also can't write off the interest on your private house ;)

I already thought so, just wanted to ask. It could have been that one could somehow claim it as ongoing costs, like for example the costs of the chimney sweep, janitor service, etc.

Thank you very much for the information