Tackling The Credit Crunch

Published: 8/24/2010

Abbey National mortgage customers facing difficulties on the back of the credit crunch are being asked to consider taking in lodgers to make ends meet.

Across the country there are currently over 18 million households with an unused bedroom that could be offered out for rent. The average rental price paid for a bedroom in a house is just under GBP290 per month according the Abbey National figures and represents extra money that the homeowner could find very useful.

Anyone considering this option should ensure the terms of the mortgage are not being breached in any way and also that any insurance cover is still valid for the homeowners property. Abbey National expect there to be few problems but ask homeowners to check before going ahead.