Homeowners better off than renters PrintPdfClose »

08/02/2012

"You are better off to buy."

The Halifax have found that new homeowners mortgage pay, on average, £116 or 16% less than the average cost of renting a similar property. The Halifax figures show a dramatic turn around since 2008 when the average cost of owning a home was 39% higher than a typical monthly rental. The Halifax have reported that the reduction in home buying costs has been driven by falling mortgage rates as well as the fall in housing prices that we are all aware of.

Sarah Witheridge

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