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Even with a 10% deposit it's still only repayment of 1100 a month. The point is that rents are higher than mortgages which gives the case of having money means
by lhopki01 11y ago
Even with a 10% deposit it's still only repayment of 1100 a month.
The point is that rents are higher than mortgages which gives the case of having money means you can save money. And that's before you consider the massive asset you own then.
- dharma1 11y agoNoticed you said the property value is £275k? £275k property with £1700/pm rental yield is very, very good. Average rental yield (before tax) is around 4-6% of property value per year. Generally speaking though, your point is true of course. Having enough capital to buy a property in London instead of renting (especially if you bought a few years ago) will save you a lot of money in the long run, provided that property prices don't go down between your your buy/sell dates.