Buy­ing is £100 less than rent­ing

Yorkshire Post - Property - - PROPERTY -

THE cost of buy­ing a home for first-time buy­ers is more than £100 a month lower than rent­ing, ac­cord­ing to new re­search by Hal­i­fax.

The av­er­age monthly costs as­so­ci­ated with a two-bed­room flat in the UK to­talled £567 in July, 16 per cent (£110) lower than the typ­i­cal £677-a-month rent.

Since 2008, the cost as­so­ci­ated with get­ting onto the prop­erty lad­der has fallen by 40 per cent (£383).

Stu­art Law, chief ex­ec­u­tive of As­setz, says there are more first­time buyer mort­gages avail­able at more com­pet­i­tive rates at the mo­ment but ad­vises fixed rates as im­prov­ing eco­nomic con­di­tions and ris­ing in­fla­tion could re­sult in a se­ries of shock base rate rises in 2012-2013.

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