Lodgers 'can help families make the most of the best savings rates'

Those looking to take advantage of the best savings rates may want to take in a lodger to help meet their overheads, an expert has suggested.
 
Tom Entwistle, director of LandlordZONE.co.uk, has highlighted the fact that this can be a great way to boost income while maximising the value of any spare space or rooms in a property.
 
He added that this can also be a tax-efficient way to make additional money, as HM Revenue and Customs has launched a Rent-a-Room scheme that provides a tax exemption for the first £4,250 made in this way.
 
He said that there are currently lots of people looking for rooms and who are interested in lodging, making this a viable option in most areas of the UK.
 
Mr Entwistle added: "Taking in lodgers is also an excellent way to help first-time buyers afford to buy a property."

Helena Oades, nutritionist for Zeal Health, recently highlighted the fact that many families are opting to cook at home rather than order takeaway as a way of cutting costs.

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2011-09-12 13:11:47 © Moneyextra.com