A new survey by a major insurer has uncovered another consequence of the ongoing credit-crunch. The results show that a sizeable number of people would consider taking in a lodger if their financial situation got any worse.

The study, which was carried out by AA Insurance, found that although 70% of Brits had never been a lodger, over 20% were now considering it in an attempt to save money.

The trend was especially pronounced in the major university towns of Oxford and Cambridge where 46% of people surveyed said they would consider taking in a lodger to help with the bills.

The insurer warned though, that the cost of taking in a lodger could be higher than you think if you don't fully take care of your home insurance needs. The survey found that up to 3 million current landlords may have invalidated their insurance by not notifying the provider of the presence of a new tenant.

"More people are becoming lodgers and landlords because of the current financial situation. We are urging all landlords or landladies to check their insurance policy before any new lodgers move in. I am certainly concerned by the number of people who appear to be ignorant of this." Commented Simon Douglas from the AA.