Scottish trust deed question

Miss_Poohs

I have a friend who is in a protected deed she owns her own home, but has moved out and is renting her home out to extended family.

I think she's on thin ice - but she thinks everything is fine so long as it's all being paid.

Is it ok - or is she on the verge of opening a whole can of worms for herself?

Anondebtadvisor

If the rent she receives generates a profit it should be declared to the trust deed company as additional income.

If she does not tell them and they find out they could extend the trust deed

Miss_Poohs

Thank you - a don't want to labour the point with her, but I was a bit concerned.

Thanks again

Anondebtadvisor

You are right to be concerned any additional income should be declared and possibily paid into the Trust deed.

She may also need permission to rent the property from the mortgage company and need to pay tax on additional rental incom e

Miss_Poohs

Thanks I'll approach it gently!!