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Btl
Comments
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No I know that I am not their closest friend by any stretch!0
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Three words.
Dodgy as hell.0 -
Mortgage fraud for one, two its likely that because its "just her daughter" that she hasn't declared and paid tax on the "income" from the rent (after allowable expenses).
There are also massive changes to BTL tax relief at the moment.
I'm unsure if mortgage fraud would come under Proceeds of Crime Act but if so they could have the property seized from them and lose all their money.
Real question though, how is anyone ever going to find out ? I honestly don't know but wouldn't want to be them if they do!0 -
just to point out rent does not have to be cash paid to the landlord, directly or via an agent.
payment direct to the LL's mortgage lender would be rent.
Redecorating the house could be rent, if it were a condition for living there.
Anything of any value (cash, labour, knowledge) that is exchanged as part of the agreement, in return for the property, could be 'rent'.0
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