I have always done everything above board when it comes to mortgages and my house... but my morals are slipping.
I am in the fortunate position of only having 4 years left on my mortgage, and my rate is fantastic (1.4%) because of the low BoE base rate.
I am relocating because of work, and want to keep the house and rent it out, but don't want to pay the much higher Buy To Let rates.
I will be using a fully managed service from a letting agent (including appropriate gas checks etc etc), I have got landlords insurance in place and will be paying the appropriate tax...
...putting the moral questions aside, what are the potential pitfalls of not being honest with the mortgage company? How likely are they to find out (obviously it's going to be advertised to let)?
Plenty of people have told me they do this, but i don't want to get caught out!
Thanks in advance...
I am in the fortunate position of only having 4 years left on my mortgage, and my rate is fantastic (1.4%) because of the low BoE base rate.
I am relocating because of work, and want to keep the house and rent it out, but don't want to pay the much higher Buy To Let rates.
I will be using a fully managed service from a letting agent (including appropriate gas checks etc etc), I have got landlords insurance in place and will be paying the appropriate tax...
...putting the moral questions aside, what are the potential pitfalls of not being honest with the mortgage company? How likely are they to find out (obviously it's going to be advertised to let)?
Plenty of people have told me they do this, but i don't want to get caught out!
Thanks in advance...