As the economic downturn rumbles on, an increasing number of Britons who are feeling the pinch are opting to take in a lodger in an effort to boost their income, new research has revealed.
According to Abbey Mortgages, 981,000 people are now lodging in a property, an increase of 152 per cent from the 388,000 recorded in July last year.
This means the number of homeowners renting out a spare room has tripled over the course of the last 12 months, the study continued.
However, the financial services provider claims that with 16 million bedrooms going spare in the UK, Britons could be earning a potential lodger income of £6.29 billion.
Commenting on the research, Nici Audhlam-Gardiner, director of Alliance & Leicester Mortgages, said: "If you have a spare room that's gathering dust, it's worth considering a lodger and earning £4,716 a year. Not only will you have some extra money each month but most of it could be tax-free too."
However, those choosing to take on a lodger may wish to look towards energy efficiency as a way of ensuring their
gas and electricity bills do not mount up.
This can be achieved through improved
insulation or a new energy efficient boiler.
