Homeowners end up £326k better off than renters

A new report suggests that home owners end up £326,000 wealthier over a 30-year period than those renting – excluding potential house price growth. The Equity Release Council found that around 30% of homeowners saw their mortgage as an investment in their future. Nearly half of homeowners with a mortgage also agreed they were able to save more because their loan was cheaper than renting, thanks to unprecedented low interest rates. About 40% added that they believed having a mortgage in later life was becoming more acceptable and 57% said that they were looking at ways to release equity from their properties. 

The Times (17/08/2021)