Letting my mortgaged property to friends

scatmanmax

What risks do I run if I don't declare the income made or convert my mortgage to a BTL or get consent?

mjdh1957

If you don't declare the income that is tax fraud.

If you don't get consent to let then the mortgage company could demand immediate repayment of the entire sum.

That's just for starters.....

discplayer

Your chances of getting away with it are greater renting to a friend.

However, I agree with everyone else.

So, when you fall out with your friend, and he's angry with you for not understanding that he couldn't pay for only a few months and not trusting that he would get another job soon, he tells the taxman you were profiting from renting to him.

I'm a landlord and until recently was renting myself as I worked in different parts of the country but I would not rent to or from a friend. I've only heard bad stories from friends or have rented from or to friends.

Also, in your first post you mentioned an informal agreement. If you get CTL or a BTL mortgage the bank will want an AST.