First-time buyers would be better off buying a property than continuing to rent, according to new research from Abbey Mortgages.
The only exception is those looking to buy in London who would pay less to rent.
The average monthly rent in the UK i s £434, while those buying a similar type of property with a 25 per cent deposit would see a mortgage bill of £382 – an average saving of £52. Prospective buyers in Wales could make the biggest monthly saving of £90.91, followed by those in the North-west, £87.43, and Yorkshire, £77.06. Buyers in East Anglia will see only a marginal saving of £2.59. “It’s now cheaper in all bar one of the regions to buy rather than rent which shows that saving for that all-important deposit is worthwhile too,” said Nici Audhlam-Gardiner, a director of Abbey Mortgages.
In the capital, though, renting seems a more sensible option. The average rent for a flat is £650 per month, but because of inflated house prices, even those with a 25 per cent deposit would have mortgage payments of £1,116 for the same property.
But buying may be beyond the reach of many; in order to get the best mortgage rate deals buyers have to have deposits of 25 per cent or more. People with smaller deposits can find it hard to secure a mortgage or have to pay well over the odds.
The Independent on Sunday
£525 pw (£2,275 pcm)
Large two bedroom top floor (lift) apartment set in this brand new barratt home development, ideally located moments from Tottenham Court Road.
The apartment has been developed to a high standard comprising of two double bedrooms, master with ensuite shower room, two bathrooms, open plan reception with modern fitted kitchen with french doors leading to private balcony.
Long let.
Two double bedrooms
Two Bathrooms
Balcony
Top floor (lift)
Bloomsbury
Contact Details
Telephone: 020 7580 1010
Fax: 020 7290 0595
E-mail: info@ldg.co.uk
Web Search: LDG Estate Agents
£375 pw (£1,625 pcm)
Available from: 3rd Jul 09
Furnished
Modern one bedroom flat located on the second floor of a modern building located on Red Lion Square.
The flat benefits from entrance hallway, double bedroom built in wardrobes, 3-piece white bathroom and lounge leading into a fully fitted open plan kitchen.
Double Bedroom
Bathroom
Lounge
Open plan kitchen
Lift
Contact Details
Telephone: 020 7580 1010
Fax: 020 7290 0595
E-mail: info@ldg.co.uk
£340 pw (£1,473 pcm)
Available from: 6th Jun 09
One Double bedroom apartment set on the fourth floor of this purpose built apartment.
Contemporary one bedroom with fitted wardrobes, reception, fully fitted galley Kitchen with dishwasher.The rent is inclusive of Heating & Hot water.
Fully fitted Kitchen
Fourth Floor with lift
Includes Heating & Hot water
Contact Details
Telephone: 020 7580 1010
Fax: 020 7290 0595
E-mail: info@ldg.co.uk
BLOOMSBURY CONSERVATION AREA
Six story Grade II listed Georgian property, dates back to 1800, superbly restored by the current owner to provide a stunning single family residence.
The house has until very recently been used by the BBC for the filming series of What not to wear.The house provides 5 reception rooms, 6 bedrooms, including a master suite and a large kitchen/breakfast room, which has an electronically operated glass roof/ceiling with automatic sensor closing.
Wirsbro under floor heating
Lutron lighting system
Integral Entry system
1000 bottle wine celler
Residents parking permit
£600 pw (£2,600 pcm)
Brand New two double bedroom apartment set on the first floor of this new residential development located on a quiet street in Bloomsbury close to all the amenities of Tottenham court Road.
This is a brand new development which has been finished to a high standard throughout, comprising of two double bedrooms, master bedroom with en suite shower room & private balcony, Guest bathroom, open plan reception, fully fitted modern kitchen with granite worktops, dishwasher, fridge freezer, washer dryer & wine chiller.
PARKING AVAILABLE UNDER SEPARATE NEGOTIATION
Two double bedrooms
Two bathrooms
Modern open plan kitchen/reception
Private balcony
Bloomsbury
Available from: 20th June 09
Contact Details
Telephone: 020 7580 1010
Fax: 020 7290 0595
E-mail: info@ldg.co.uk
£350 pw (£1,517 pcm) Available Now
A well presented one bedroom flat situated on the first floor in this popular secure development, moments from the British Museum.
This well designed flat benefits from a separate kitchen, bright reception, double bedroom and porter.
Bloomsbury Plaza is in the heart of the West End with great local transport links and within close proximity to Covent Garden, Shoo, Fitzrovia and Bloomsbury.
Available Now.
ONE DOUBLE BEDROOM
RECEPTION ROOM
ONE BATHROOM
KITCHEN
PORTER
CENTRAL LOCATION
SECURE COURTYARD DEVELOPMENT
EXCELLENT TRANSPORT LINKS
AVAILABLE 24/03/2009
Contact Details
Telephone: 020 7580 1010
Fax: 020 7290 0595
E-mail: info@ldg.co.uk
Compton House,
66 Tavistock Place,
London,WC1H
£390 pw (£1,690 pcm)
Newly Refurbished two bedroom apartment set on the 1st floor of this period mansion block located only moments from the recently rejuvenated Brunswick Centre.
The flat comprises of two bedrooms, corner aspect reception room, separate fitted kitchen and bathroom with shower over bath.
Available Now
New Refurbishment
Two Bedrooms
Corner aspect reception
Separate Kitchen
Bathroom
Contact Details
Telephone: 020 7580 1010
Fax: 020 7290 0595
E-mail: info@ldg.co.uk
BLOOMSBURY CONSERVATION AREA
Six story Grade II listed Georgian property, dates back to 1800, superbly restored by the current owner to provide a stunning single family residence.
The house has untill very recently been used by the BBC for the filming series of What not to wear.
The house provides 5 reception rooms, 6 bedrooms, including a master suite and a large kitchen/breakfast room, which has an electonically operated glass roof/ceiling with automatic sensor closing.
Wirsbro under floor heating
Lutron lighting system
Integral Entry system
1000 bottle wine celler
Residents parking permit
Bloomsbury
Contact Details
Telephone: 020 7580 1010
Fax: 020 7290 0595
E-mail: info@ldg.co.uk
£2,000 pw (£8,667 pcm)
BLOOMSBURY CONSERVATION AREA
Six story Grade II listed Georgian property, dates back to 1800, superbly restored by the current owner to provide a stunning single family residence.
The house has untill very recently been used by the BBC for the filming series of What not to wear.
The house provides 5 reception rooms, 6 bedrooms, including a master suite and a large kitchen/breakfast room, which has an electonically operated glass roof/ceiling with automatic sensor closing.
Wirsbro under floor heating
Lutron lighting system
Integral Entry system
1000 bottle wine celler
Residents parking permit
Bloomsbury
Contact Details
Telephone: 020 7580 1010
Fax: 020 7290 0595
E-mail: info@ldg.co.uk
