Jump to content
House Price Crash Forum
Sign in to follow this  
interestrateripoff

Finding It Hard Renting A House? It's Cheaper To Buy In Four Out Of Five British Cities

Recommended Posts

http://www.dailymail.co.uk/news/article-2003566/Finding-hard-renting-house-Its-cheaper-buy-British-cities.html

Low interest rates and house price falls have made it cheaper to buy a home than to rent one in four out of five British cities, research indicated today.

The cost of renting a typical first-time buyer property is 9.7 per cent more than buying a similar home, based on an interest-only mortgage charging a rate of five per cent, according to property website Zoopla.co.uk.

Milton Keynes is the most expensive town in which to rent a home rather than buy one, with a two-bedroom home costing 43 per cent more than mortgage payments on a comparable property.

It is followed by Birmingham, where renting costs 37 per cent more than buying, and Warrington and York, where rents are 29 per cent higher than mortgage costs.

.........

Even in London, it is still 16 per cent cheaper to buy a home on an interest-only basis than it would be to rent a comparable property.

Yes even in London it's cheaper to buy and not repay the capital then rent, although what isn't mentioned is that you are then liable for all maintenance on the property which probably makes it more logical to rent in London. But hey lets not be critical this is all about getting the housing market moving again.

It's a buy buy buy signal.

Lets get the economy booming again.

Share this post


Link to post
Share on other sites

http://www.dailymail...ish-cities.html

Yes even in London it's cheaper to buy and not repay the capital then rent, although what isn't mentioned is that you are then liable for all maintenance on the property which probably makes it more logical to rent in London. But hey lets not be critical this is all about getting the housing market moving again.

It's a buy buy buy signal.

Lets get the economy booming again.

Thank goodness for that report. I'm not missing out this time round! tongue.gif

Share this post


Link to post
Share on other sites

http://www.dailymail...ish-cities.html

Yes even in London it's cheaper to buy and not repay the capital then rent, although what isn't mentioned is that you are then liable for all maintenance on the property which probably makes it more logical to rent in London. But hey lets not be critical this is all about getting the housing market moving again.

It's a buy buy buy signal.

Lets get the economy booming again.

:lol: Yes, the "being a*rse raped directly by bankers is better than renting from someone who is being a*rse raped by bankers" meme is one of the most destructive ever to our society? Wake up sheeple, most property in the UK is worth about 40 grand tops, you have been scammed by c*unts who went to Oxbridge.

Edited by dances with sheeple

Share this post


Link to post
Share on other sites

okay daily mail the house i deciced not to buy in february is now £15000 cheaper and still on the estate agents books. my rent is £600 a month,you don't need a maths degree to work out that £15000 leaves me with £600 change out of 2 years rent and that doest take into account the house will be £15000 cheaper again in another year (real case scenario) so I'm more than happy to rent at the moment.

Share this post


Link to post
Share on other sites
The cost of renting a typical first-time buyer property is 9.7 per cent more than buying a similar home, based on an interest-only mortgage

So not actually buying at all then :blink:

Of course when 'buying' you do get the privilege of paying for upkeep, buildings insurance and of course depreciation.

Funny how these sorts of articles always get trotted out when mugs buyers are drying up and prices are falling.

Share this post


Link to post
Share on other sites

Yes even in London it's cheaper to buy and not repay the capital then rent, although what isn't mentioned is that you are then liable for all maintenance on the property which probably makes it more logical to rent in London

My experience backs you up.

My insurance company doubled my Rebuild Cost, because they said the mortgage company didn't take into account that London builders were at least double the national average price. Try getting decent builders in central London, with their own kit and tools. You can hire labour, but a proper firm is really expensive in the centre.

Share this post


Link to post
Share on other sites

So not actually buying at all then :blink:

Of course when 'buying' you do get the privilege of paying for upkeep, buildings insurance and of course depreciation.

Funny how these sorts of articles always get trotted out when mugs buyers are drying up and prices are falling.

Precisely.

It is amazing that people actually get paid to write this shite.

Share this post


Link to post
Share on other sites

If you read the recycled press release carefully researched article further, it appears they are talking about I.O. 'repayments'. Morons.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.