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Maybe...but it’s one factor among many. Do you need lodging income for affordability?
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Interestingly, we have a lodger and my wife runs her business from home, my current bank were happy enough with both of these things, they just asked for info like name, DOB and employment status, and they were happy enough, no change to rate. Had to do the same for Home and Contents insurance, however, no change in cost but it did mean in the instance of a break in we would have to prove forced entry or something like that, however, we were an existing customer so they were happy to add this to our account, as a new customer they would not take us on with a lodger, we would have to go to a specialist, therefore we have stuck with the same folk for the last 5 years.
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Howard
Bernhard
@hoefla
If you have a lodger is this considered to be higher risk, and therefore higher interest rate?