Rental Income split

Hi Admins, At the moment my wife and I own a property (50/50). As my wife is part time employee and earns less, I am thinking of transferring the most of the rental income to her (99/1). I have few questions 1. Do I need Deed of assignment or Deed of Trust? 2. Do I need to inform my mortgage lender? 3. Any other documents are needed/submit apart from point 1 and Form 17?

Hi,
Yes you would require a deed of assignment or declaration of trust as evidence for the Form 17 you need to submit as you are both owners of the property.
Please see guidance
TSEM9870 - Property held jointly by married couples or civil partners: Form 17 rule - action on receipt of form 17
and
TSEM9520 - Ownership and income tax: express trusts - written declaration.
HMRC cannot advise on the requirement to inform your mortgage provider, please check with them directly.
Thank you.