Improve you bank balance
If you’re looking for ways to improve your bank balance, one option is to rent out your spare room. By signing up to the Rent a Room scheme, not only do you enjoy the extra income from the rent, but also up to £7,500 a year is free from tax.
If you have a spare room that you are able to let out fully furnished you could qualify for the rent a room scheme, including Airbnb type lets. Provided the space is part of your main residence, up to £7,500 a year could be earned tax free through these rental arrangements.
Ensure you are okay to participate in the scheme with your insurers and you may even be able to secure a rent-a-room scheme specific mortgage. It’s worth speaking with us today to see if this is an option for you.
Get in touch with our team today to discuss your options
Your home or property may be repossessed if you do not keep up repayments on your mortgage. You may be charged a fee for mortgage advice.
Related News
Funds To Help The Cost Of Living
While the cost-of-living crisis rages on, many of us are looking at ways we can tighten our belts, even with that new measures being put in place by Liz Truss earlier this month.
6 Reasons You Need Life Insurance
If you’re looking into Life Insurance but are still on the fence whether to go ahead, check out these 6 key reasons why you might consider securing the cover for yourself and your family.
Review Your Outgoings And Save Money
It is surprising the money you can save if you review and replace your current financial obligations. Spend a day reviewing your current outgoings and shop around or speak to a financial adviser like ourselves to see if we can help you obtain comprehensive but more cost-effective cover- (it can take some time but can be worth it in the savings you could make!)
Bills What To Do If You Are Struggling
Many of us could still be struggling with that upsurge in costs so what can you do if they’re just unmanageable? Check out our top ten tips on what to do if you’re struggling to afford your energy bills.
Make your Lenders Want You!
We’ve assembled a few top tips to help give you real curb appeal when it comes to presenting your application to the lender.
Claim Tax For Working From Home?
You may be able to claim tax relief for additional household costs if you have to work at home for all or part of the week.
Property At Risk Of Floods?
the long periods of dry weather followed by a period of rainfall can cause flooding and when it comes to the significant increase in rainfall during the winter months flooding can be even more prevalent causing significant property damage.
Using Equity Release To Gift Funds
Recent research conducted by Later Life Lender more2life, revealed the true extent to which gifting via Equity Release can benefit fund recipients.
The Current Climate And Credit Score
As we continue to battle the cost-of-living crisis, it’s easy to see the solutions damaging our credit file, impacting our future finances as well as hitting us in the pocket today.
3 Considerations About Medical Insurance
Even with private health insurance, you'll still use the NHS for services such as your GP or A&E. Equally, if you get a serious illness, you won't necessarily receive treatment more quickly by being covered by a health insurance policy than you would under the NHS.