Return of Rising Damp as mortgage costs rise

Posted: 09 Mar 2007 09:44:25 GMT


            Property News - Return of Rising Damp as mortgage costs rise

More and more property owners in the UK are taking in lodgers to provide extra income towards their mortgage payments, research for online classified ad site Gumtree has said

More and more property owners in the UK are taking in lodgers to provide extra income towards their mortgage payments, research for online classified ad site Gumtree has said.

The number of people advertising rooms to rent has grown 38 per cent over the last six months said Gumtree, alongside three interest-rate rises.

Almost a third of homeowners admit that they are struggling to cover their mortgage costs and more than one in ten say that they would consider renting their spare room.

"Lodgers sharing your home can be an easy way to help curb spiralling costs," said Sophy Silver of Gumtree.

"As well as being a lucrative solution, flatsharing can be a really fun experience for young professionals looking to widen their network of friends and have fun while they save their pennies for their own place."

The flat-sharing capital of the UK is Brighton, where more than one in five adults co-habit with others.

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