Renting is cheaper than buying for first time in six years - except in Scotland
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dailyrecord.co.ukHamptons has discovered that renting a home is now typically cheaper than buying one in most parts of the UK, reversing a trend seen for the past six years.The estate and lettings agents found that in May, the average private sector tenant in the UK spent £71 per month less in rent than if they were servicing the repayments on a 10 per cent deposit mortgage.This means they would have spent a monthly average of £1,054 on rent compared to £1,125 on mortgage repayments - the first time since December 2014 that renting has been cheaper than buying.Back in March 2020, someone with a 10 per cent deposit would have been £102 per month better off buying on average, the report said.However, researchers found Scotland is one of four nations or.
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