Owning home 'cheaper than rent'

Press Association
File photo dated 11/12/13 of a row of terraced houses in south London as banks have rapidly become more dominant in the ultra-low-deposit mortgage market since the Government's flagship Help to Buy scheme was fired into action, according to a financial website. PRESS ASSOCIATION Photo. Issue date: Wednesday February 19, 2014. Traditionally, building societies have held a bigger share of the number of deals on offer for people with a 5% deposit, largely due to banks being more reluctant to offer such products which are seen as being more
File photo dated 11/12/13 of a row of terraced houses in south London as banks have rapidly become more dominant in the ultra-low-deposit mortgage market since the Government's flagship Help to Buy scheme was fired into action, according to a financial website. PRESS ASSOCIATION Photo. Issue date: Wednesday February 19, 2014. Traditionally, building societies have held a bigger share of the number of deals on offer for people with a 5% deposit, largely due to banks being more reluctant to offer such products which are seen as being more

%VIRTUAL-SkimlinksPromo%The cost of owning a family-sized home in the UK is now almost £1,500 a year cheaper than renting, according to research.

Halifax looked at the cost of running a three-bedroom house compared with the typical monthly rent paid on a similar property, and found that it is around £124 a month or £1,488 a year cheaper.