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Rent a Room Relief: let the spare bedroom pay the mortgage – If you stray over the allowance, in other words, if you earn more than 14,000 from renting a room – and that includes money for renovations. gives permission, you can avail of the Rent a Room.
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How to finance a fixer-upper – You can use the money for repairs, remodeling, renovations or energy improvements. The only restriction is that the changes must be permanently Interest rates for renovation loans are usually one-eighth to one-quarter of a percentage point higher than they are for a conventional mortgage.
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