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In the UK at least, rent is higher than the equivalent mortgage payments at the moment. I pay around 2/3rd the cost of what friends pay for their rented proper
by xd 16y ago
In the UK at least, rent is higher than the equivalent mortgage payments at the moment. I pay around 2/3rd the cost of what friends pay for their rented property and this is common across the country. This has been caused by the decline in mortgage lending.
- petercooper 16y agoIt depends on when people bought and the region of the country. I see the exact opposite picture here in a rural, northern area. My small 2 bedroom end of terrace costs me just more in mortgage payments than a 4 bed detached house in the same town. The reason? I bought at peak of market in 2007 whereas the people renting out the big houses bought 10+ years ago when such houses cost little more than my shoe box. Given the total lack of a job market, too, the rents have failed to increase.
- jeffepp 16y agoThese inefficient market conditions are exactly what I would look for when purchasing or investing in a home. The worst case scenario is + cashflow.
- danzad 16y agoWas that a 100% mortgate or did you put down a deposit?