January 21, 2010
People Seeking Lodgers Rises By 27%
The number of live-in landlords advertising online for a lodger to help pay their mortgage costs jumped to 2,487 from 1,955, according to Spareroom.co.uk.
A total of 65 per cent of respondents said they were overstretched financially and that the costs of Christmas had forced them to take action.
“With Christmas over and done with, homeowners are using the start of a new year as the motivation to get their finances in order. As a result, we have seen unprecedented levels of live-in landlords advertising in the first two weeks of 2010.”
The group said it had seen a record number of people advertising for lodgers during 2009, and it expected the trend to continue this year.
The average weekly rent stands at £87, meaning they could pay off the average Christmas debt of £435 in five weeks, according to Spareroom.
But it will take longer for those looking to clear off the average household debt of £9,106 – they will need two years worth of rental income.
The Government’s Rent a Room scheme allows households to earn up to £4,250 a year tax-free.
