I do not agree with the reply above " the lender doesn't ask about it, then I guess you are not doing anything wrong" there is an obligation to fully disclose your current situation as it stands and when you sign your name on the contract you are stating that all your disclosure is true and correct.

I would be very interested to hear back from people who have successfully used Steve's concept of using your income again and again to qualify for loans in different trusts as I may be missing the point.