Mortgage deposit idea

Cornucopia

It's one of the hidden facts about the Property Market that a lot of people do not know: the relationship between rent and property costs varies considerably between areas.

Rents are at their lowest proportion to property price in some of the most affluent inner London areas. i.e. Anyone renting in one of those areas will have a much bigger struggle to afford to convert like-for-like from renting to owning than elsewhere.

http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/11633681/Buy-to-let-hotspots-for-2015-revealed.html

TheDebtinator

Cornucopia wrote: »

It's one of the hidden facts about the Property Market that a lot of people do not know: the relationship between rent and property costs varies considerably between areas.

Rents are at their lowest proportion to property price in some of the most affluent inner London areas. i.e. Anyone renting in one of those areas will have a much bigger struggle to afford to convert like-for-like from renting to owning than elsewhere.

http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/11633681/Buy-to-let-hotspots-for-2015-revealed.html

It has often been the case while I have been renting. It is often cheaper to rent than it is to buy when looking at the monthly payments. Largely this will be because the home ower can afford to charge less rent if they want to because they bought the house x years ago when it was cheaper than it is now so therefore doesnt have high monthly repayment costs themselves..