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What happens if I make a profit on a residential mortgage

reddyman · 2010-01-24 12:00:58

Hi all, The scenario is as follows: I take out a residential mortgage and right to my bank to let them know I will be renting out the property. I pay the fee/increase rate and get a letter confirming it is OK for me to rent out the property. I take out the relevant buildings insurances etc to cover the tenants. I ensure…

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reddyman Posts: 99 Forumite

26 January 2010 at 9:48AM

Thanks All

You have all been very helpful. I will off course be declaring the tax on any income received from renting out my property. And will off course use the expenses to offset against it, so I don't have to pay more than I have to.

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What happens if I make a profit on a residential mortgage

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