View more on these topics

Home owners turn to lodgers to meet mortgage repayments

Home owners are increasingly turning to lodgers to help pay the mortgage, reveals a survey from Zurich Financial Services.

One in five people questioned say they cannot afford the repayments on their mortgage without the additional income of a lodger. An additional 4% say renting a spare room was the only way they could afford to get on the property ladder.

But the survey also shows that lodgers are costing home owners dear. Nearly one in five say they have suffered damage to their property. And 18% of home owners who brought in a lodger to give them a financial helping hand, say they endured late rent payments.

Worryingly, 75% of those questioned did not vet their lodger in any way before inviting them into their home.

Maria Donald, spokesman for Zurich, says: “Property prices and the cost of living mean many home owners are feeling the pinch. Bringing a lodger in seems like the perfect way to earn a bit of extra cash if youve got a spare room, but as this research shows, it does need some careful thought and planning beforehand. “

Zurich say those considering renting a spare room out should always thoroughly vet potential lodgers, through interviews, references and rental history. They should also check with their mortgage lender that it is viable for them to take in a lodger.


Haart predicts 5% increase in property prices in 2006

Haart is predicting UK property prices to increase by 5% in the first half of 2006. Its 2006 housing market forecast also reveals annual growth in the housing market is set to be 2-3%.It also anticipates Self Invested Pension Plans and Home Information Packs will boost the housing market. Paul Smith, chief executive of haart […]

Work with us, says leads firm

Lead generation has to be a two-way street to work effectively, says During a seminar at last week’s Mortgage Business Expo Vanessa Blount, head of, spoke about the benefits of lead generation. There has recently been concern over whether it is worth paying upfront for leads that may not be genuine or lead […]

Figures show new homes are more energy efficient

Meteorologists are forecasting 2005 as one of the coldest winters for over a decade, but figures analysed by reveal new homes are over twice as energy efficient as average older homes in the UK, meaning a warmer winter and cheaper energy bills. says new homes utilise the latest developments in building techniques and […]

Shining a light into columnist’s darkness

In a recent issue (Mortgage Strategy, November 7), Richard Griffiths stood on the shoulders of giants by quoting Benjamin Disraeli, no less. The original quotation went: “There are three types of lies: lies, damned lies and statistics.” But today, as politicians substitute spin for wit, he might have also added a fourth – press articles. […]


News and expert analysis straight to your inbox

Sign up