I dont know if you HAVE to declare letting it out but like you say if something happens it could be dodgy ground to be on with the mortgage people..
My rent would also cover my mortgage but I live on my own and I dont want the worry (thousands of miles away) of who is in my house, and whether or not it might be empty at any time.. I think that it might too much for me!! However it may come to that if I can't sell my house, and judging by the doom merchant press we will have to wait and see what happens!
Mind you at least we wont sell up and then find ourselves priced out of coming back in the future for the time being as happened to a friend of mine few years ago in Brisbane.. (Not that I intend on coming back ha ha)
