Buying over renting could save you £200,000

Stepping on to the property ladder instead of renting will save people almost £200,000 over a lifetime, according to new research.

The report by Barclays showed that the average total of buying, paying mortgages and maintaining a home costs £429,000 over 50 years, not even accounting for the value of the home at the end, compared with £623,000 in rent.