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zappo had a list of uk cities comparing rent prices with interest only mortgage price. Some cities eg. Edinburgh showed hardly any difference (for comparable si
by Tycho 12y ago
zappo had a list of uk cities comparing rent prices with interest only mortgage price. Some cities eg. Edinburgh showed hardly any difference (for comparable sized properties).
What I'm not sure about though is how it compares to a traditional principal and interest mortgage. Obviously your interest payments fall as the mortgage amortises... So then how does total interest compare to money spent on rent in that case? That's what most people would be wondering when it comes to evaluating renting vs buying...
- mbostock 12y agoInterest payments are only part of the story. The equivalent rent we calculate provides a much more direct comparison.
- colinramsay 12y agoI think you might mean Zoopla? http://www.zoopla.co.uk/press/releases/buying-beats-renting-in-aberdeen-but-it-pays-to-rent-in-london/ http://www.zoopla.co.uk/press/releases/buying-beats-renting-...
- Tycho 12y agoEr... Yes.