We recently published details of how students can now obtain 100% financing to buy a property and rent a room or two to offset the costs of ownership.

When it comes to renting spare rooms to lodgers, one website immediately sprung to mind – SpareRoom.co.uk

House Share and Flat Share Tax Benefits for owners occupiers

There are tax benefits in “House Share” and “Flat Share” letting for owner occupiers (also known as “live in landlords) too. Did you know that if you rent a room in your house or flat to a lodger that the first £81.73 a week received in rent is not taxable? To qualify for this tax break the property MUST be your own home though. Could this be the recession buster you’ve been looking for?

Students rent out a room after buying with 100% mortgage finance

Using the new 100% financing scheme to buy their own home students could rent out a room or two to cover the costs. Not only will they get themselves onto the housing ladder but if they can rent out say two rooms in a three bed house or flat they may bring in enough rent to cover the majority if not all the cost of ownership. So that’s a foot on the property ladder and the potential of reducing the costs of living – seems like a no brainer to me!

Taking in a Lodger?

Download the Free 5 Page Guide from SpareRoom.co.uk

Thinking of taking in a lodger? Look no further, SpareRoom.co.uk have created a 5 page guide for you to download, print out and keep and it’s totally free. Just fill in your details below and we will link you straight through to the download. Your contact details will also be sent over to SpareRoom.co.uk so that they can offer you further help and even some free advertising.

The guide includes:

• Information on how to earn £4,250 a year tax free from your room
• A simple explanation of all that’s involved
• A step by step guide to taking in lodgers to keep the whole process stress free

To download your own free copy of the guide simply fill in your details below.

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