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← £30 billion worth of fixed deals come to an end | News For July 2008 | TPG Capital pull out of deal with B&B →
Buying is more cost efficient in most areas of UK
Figures released by Abbey suggest that renting a property whilst saving to buy is not necessarily as cost effective as it used to be. The typical property price in the UK is now £172,415 although the savings made will depend on the area you live in with those buying in eastern Scotland reaping the most benefit and those in Northern Ireland, western areas of Scotland and the North West bucking the trend and still finding themselves better off renting.
The figures refer to renting for the lifetime of a 25 year mortgage and have revealed that during that period a homeowner would make repayments to their lender totaling an average of £10,000 less than if renting over the same period of time.
← £30 billion worth of fixed deals come to an end | News For July 2008 | TPG Capital pull out of deal with B&B →
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
This site is intended for UK residents only. The overall cost for mortgages for comparison is % APR.
The actual rate will depend on your circumstances. APR variable and based on a usual case.
Grovelawn Financial is a trading name of Grovelawn Limited, which is authorised and regulated by the Financial Services Authority.
Grovelawn Limited is Registered in England & Wales number 5030300. Registered Address: 98 Station Road, Sidcup, Kent, DA15 7BY.
Entered on the Financial Services Authority's Register — Register Number: 314204 — Consumer Credit Licence Number: 573287
The Financial Services Authority (FSA) do not regulate some types of buy to let, commercial, overseas mortgages, tax advice and credit or loans not secured on property.