Renting a room

17 September 2008
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As house prices and mortgage levels have increased, many first time buyers are seeking to add to income by renting out rooms in their newly acquired houses.

Lenders will not take the potential for such income into account when assessing borrowing capacity

If you rent out a room (or rooms) in your home to private tenants, the rental income you earn will be exempt from income tax, provided this income does not exceed €12,000 per annum