Failing to declare that I'm renting out my property

capibara1

Three years ago I left my full time job, gave up my career, moved away and started a new life as a volunteer for a charity.  I rented out my property which pays the mortgage fully each month.  I contacted my mortgage company beforehand and filled in a form which allowed me to rent out my property for two years without any additional fee, or different mortgage, required.  However this ran out last August only I've just realised that I never replied to letters about this.  It's only now - with more time on my hands to sort through paperwork- that I've realised.  I want to contact them and to be honest about my mistake and to put things right.  I've continued to rent out my property all this time and will need to do so until probably mid 2021.   I'm wondering what is likely to be the fine or what might happen? Any suggestions?

davidmcn

It would help if you told us which lender it is!

Hasbeen

capibara1 said:

Three years ago I left my full time job, gave up my career, moved away and started a new life as a volunteer for a charity.  I rented out my property which pays the mortgage fully each month.  I contacted my mortgage company beforehand and filled in a form which allowed me to rent out my property for two years without any additional fee, or different mortgage, required.  However this ran out last August only I've just realised that I never replied to letters about this.  It's only now - with more time on my hands to sort through paperwork- that I've realised.  I want to contact them and to be honest about my mistake and to put things right.  I've continued to rent out my property all this time and will need to do so until probably mid 2021.   I'm wondering what is likely to be the fine or what might happen? Any suggestions?

I think if you are not registered with HMRC as a landlord and are not fully undertaking all the relative legislative requirements as a landlord, required these days?

That would concern me more than the mortgage company?

But if you are then all is well, just have to get a new arrangement with your mortgage company, who are?

But the solution is what you have written, contact the mortgage company and get a new arrangement?