It's cheaper to buy than rent a property in the UK everywhere outside London, research suggests

[Nicholas Wallwork]

Conditions are ripe for first time buyers in the UK to get on the property ladder as buying is cheaper than*renting in every area except London, according to research.

The average first time buyer outside London could save £87 a month once on the property ladder and the*average first time buyer mortgage payment is now £334 a month, the survey from Santander Mortgages shows.

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[siva6760]

Great blog post, thanks!

The problem for first time buyers at the moment though is how do they raise the deposit? Most 20somethings in the UK will not be in a position to buy a first house for many years.

 

[PatrickF]

Very true and the availability of mortgages for first time buyers is another factor that is stopping people getting onto the first rung of the property ladder.

 

[Eagleskey]

Great blog post, thanks!

The problem for first time buyers at the moment though is how do they raise the deposit? Most 20somethings in the UK will not be in a position to buy a first house for many years.

A good idea for those that can't afford the deposits are Lease Options. You rent to buy, with this way you collect your deposit for some years and then you get a mortgage. Oh I forgot to mention that you can collect your deposit and live in your property.