Renting is cheaper per month

At the moment in most of the uk. Typical rental yield is around 5.5% typical interest rate for a first time buyer with a 15%ish deposit is more than that and rates are only going to go up. Once you factor in repayments for the same monthly cost a renter could be investing reasonable amounts into a balanced portfolio. Home owners also have repairs costs ( say 1% of property value a year on average) and buildings (and payment?) insurance to cover.

My job is to promote home ownership across England so I'm not biased!

Posted By: Kangol Canary on May 18th 2011 at 21:10:24

Message Thread

Non football financial question relating to housing in the UK. (General Chat) - usacanary, May 18, 20:38:51
- One needs a deposit to get a mortgage to be able to buy though. (General Chat) - Graham Br15tol, May 18, 22:08:59
- in USA (General Chat) - dr fanta, May 18, 21:22:09
  - Its much harder now. Far from impossible though. (General Chat) - usacanary, May 18, 22:06:03
    - Huge Bubbles (General Chat) - dr fanta, May 18, 23:20:51
- Renting is cheaper per month (General Chat) - Kangol Canary, May 18, 21:10:24
  - It really depends on the mortgage that you are able to get. (General Chat) - Vivid Data Shark, May 18, 21:34:53
    - based on the rent vs value figures below. (General Chat) - usacanary, May 18, 21:55:26
      - unless you live near a uni and cram it full (n/m) (General Chat) - Jumbo1, May 18, 21:57:25
        
        But then you are geting more than 0.5% per month....... (n/m) (General Chat) - usacanary, May 18, 22:06:53
  - wow, its much cheaper to buy here than rent. (General Chat) - usacanary, May 18, 21:34:31
    - Rough idea here (General Chat) - Kangol Canary, May 18, 21:41:07
      - Thats exactly what I was looking for. (General Chat) - usacanary, May 18, 21:51:19
- I've just bought a house, I move in in July (General Chat) - conker, May 18, 20:59:22
- The UK market is considered to be on the brink of a crash (General Chat) - LowestoftBoy, May 18, 20:45:49
  - Isn't the problem (General Chat) - Steve, May 18, 20:55:04
    - Thats strange? Is nobody building new houses for first time buyers? (General Chat) - usacanary, May 18, 21:12:30
      - It's planning (General Chat) - Kangol Canary, May 18, 21:18:46
      - UK Builders have "Landbanks" (General Chat) - LowestoftBoy, May 18, 21:17:36
        
        Rubbish (General Chat) - Kangol Canary, May 18, 21:22:00
        
        Did you title this "rubbish" because you knew what you were about to write? (n/m) (General Chat) - grumpy, May 19, 00:08:30
        
        maybe, but (General Chat) - LowestoftBoy, May 18, 21:27:12
        
        I didn't say they didn't have land (General Chat) - Kangol Canary, May 18, 21:30:02
        
        you're shitting me (General Chat) - Worzel Scrimmage, May 18, 21:19:32
      - The US is cheaper than many parts of the world (General Chat) - Worzel Scrimmage, May 18, 21:17:16
      - it`s the banks not lending money to first time buyers (General Chat) - emmaroyds, May 18, 21:14:56
        
        Yep , its getting much tougher in the US. No that tough though. (General Chat) - usacanary, May 18, 21:42:03
    - renting considered the better short term option (General Chat) - LowestoftBoy, May 18, 21:04:03
      - My "affordable" rent is ?600pcm (General Chat) - Steve, May 18, 21:15:10
        
        I'm in Royston - paying ?475pcm for a room in a house (General Chat) - Karnivore, May 18, 21:25:05
        
        60k! Ridiculous! (n/m) (General Chat) - Dr5ub1in, May 18, 21:17:29
        
        exactly - couldn't afford the pay cut (General Chat) - Jumbo1, May 18, 21:18:19

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