Buying cheaper than renting for FTB’s

Recent research from Santander Mortgages suggests that potential first time buyers would find it cheaper to buy than rent at the present time, they state that average rental prices are greater than average mortgage repayments in every region of the UK, a saving for first time buyers  on average of £2,300 per year if they chose to buy.

First-time buyers in London where rental prices are at their highest would see themselves £179 better off per month, whereas those at the other end of the scale are those  in the East of England, the typical first time buyer there would  find themselves  only £2 better off.

Managing Director of Mortgages at Santander UK, Miguel Sard reportedly said: “People assume that buying a property will put them under greater financial pressure, but often the reverse is true.

“With annual savings averaging well over £2,000, this can really mount up over time and of course once the mortgage is paid off you have a valuable asset to show for it.

“Many prospective first-time buyers see the cost of saving for a deposit as prohibitive, but there are many deals available for smaller deposits.

“Buying a property is a big financial commitment and there are upfront costs to consider, but over the long-term the financial benefits can be very significant.

“Getting independent advice and looking for competitive rates either online or through a mortgage advisor is crucial to get the best mortgage to meet potential homeowners individual needs.”


Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

do i need planning permission for a shed
Home and Living

What you need Planning Permission for in your Garden

Gardens, mostly those at the rear of property, offer us a great diversity of options outside just a lawn and patio area. From outside office space to swimming pools, gardens are a great space in which we can add great value to our lifestyles from leisure to work. Planning permission is the phrase used to…
Read More
Breaking News


Daily bite-sized proptech and property news in partnership with Proptech-X. continues to strengthen its leadership team With my non-journalist hat on, and to ensure complete transparency, I also hold a position as a non-executive director at – AS Following the recent acquisition of BriefYourMarket, proptech supplier, has announced that Damon Bullimore…
Read More
Overseas Property

How to reside in Spain through an investment

Golden Visa residence in Spain is a residence visa for investors. It was created by Law 14/2013 on support for entrepreneurs and their internationalisation, and its purpose is to attract non-EU foreign investors to Spain. This visa offers legal residence in Spain for a period of 6 months to 2 years depending on the type…
Read More
burglar uk
Home and Living

What do Burglars look for in a House?

We are all aware, unfortunately so, that today we need to be very careful on what we leave on show that could tempt a burglar / thief. Home security has certainly improved over the years including methods of combating crime and deterring those tempted to break in and enter. Especially with the invention of the…
Read More
Breaking News


A roundup of the week’s top property and proptech news stories in partnership with Proptech-X   What next for Rightmove as CEO quits? PRESS RELEASE: 5 Million Private Renters Live in Unhealthy Homes Reveals Recent Research by Yuno What does The Queen’s Speech mean for property? What are the real Proptech trends? What next for Rightmove…
Read More
Kerb appeal
Home and Living

Top Tips to increase Kerb Appeal

How many times have you driven past a row of houses and admired an individual property? Something usually catchers your eye be it architecture, colours, plants, flowers, iron work and more. We can all obviously stand out with bright colours and loud design work, though this can be sometimes an eye sore instead and can…
Read More