As long as you pay your Loan payments i feel banks have enough on their plate without checking if the house is being rented.I think the bank would be the least of your problems in this scenario.
Have a search, even just of this site, and read some of the nightmare stories of tenants and the ptrb. Also the amount of overheads/costs of renting. In my opinion it's just not worth the risk.
I am assuming you would register with the PTRB if you are renting out your house.