Home Owning GBP10 000 Cheaper than Renting
Published / Last Updated on 11/08/2008
Home Owning £10,000 Cheaper than Renting
According to Abbey, buying a house is now more than £10,000 cheaper than renting. The half-year findings in the lender’s rental versus buying index showed for a 25-year period on average people were £10,500 better off buying than renting and in some areas were more than £90,000 better off, compared to six months ago when homeowners would have been just £5,800 better off.
Our view
The figures speak for themselves given rents and mortgage costs have both risen in the last year, the cost difference has therefore remained broadly similar. The problem as ever is getting onto the property ladder.
Useful links:
Learn more about Mortgage Advice and related topics in the Mortgage Adviser Channel
Request expert financial advice now
Purchase guidance on financial planning in the Money Shop
Useful links:
