Buy Rather Than Rent

New research from property website portal Zoopla reveals that it costs more to rent than to buy in the UK. Tenants who choose to rent are now paying 13% more than those choosing to buy their own home.

In fact it’s cheaper to buy rather than rent in forty five out of fifty of British towns due to a decrease in asking prices and an increase in rental demand – in Milton Keynes rental costs are a whopping 39% higher than mortgage payments and renters worse off to the tune of £2,544 a year.

Way ‘up north’ in Aberdeen on the other hand, tenants are £936 in pocket over owners.

Nicholas Leeming of Zoopla.co.uk, said: “With house prices down, low interest rates and sky high demand in the private rental sector, buying has never been a better option for those able to secure a buy to let mortgage. With owners reducing prices further in order to achieve a sale before Christmas, there may well not have been a better time to buy in recent times.”

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