Lodgers 'could boost homeowner income'

Mortgage arrears may be avoided by homeowners who take in lodgers, it has been suggested.

New research from Abbey Mortgages has discovered that renting spare bedrooms out could net homeowners an extra £3,468 per year.

More than 18.2 million British property owners currently have at least one empty spare bedroom, the organisation pointed out.

Additionally, the government's rent-a-room scheme - an optional exemption initiative for people taking in lodgers - could see Britons receiving up to £4,250 tax-free gross rental income each year.

Phil Cliff, director of Abbey Mortgages, asserted that the difficulty faced by many homeowners, who may be concerned about mortgage arrears, could make taking in a lodger an increasingly attractive option.

"Demand for rooms is likely to be fairly high too and with the government providing tax-free incentives for landlords, now is certainly a good time for those considering taking in a lodger," he added.

The Telegraph described taking in a lodger as a "middle class survival tactic" last month.

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