Owning cheaper than renting

Santander research reveals that owning a home is cheaper than renting in all areas of the UK, with the average first-time buyer likely to save more than £2,250 a year when they switch from renting to ownership. The average UK rent stands at £912 per month, while first-time buyers are paying mortgages of an average £723. However, the average required deposit of £51,000 is a roadblock between many renters and the property ladder, the report notes.

Daily Mirror (19/06/2018)