Guaranteed Rental Income | Renting in Britain costs £1,000 more a year than buying
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Guaranteed Rental Income | Renting in Britain costs £1,000 more a year than buying Our rent guarantee scheme provides you with between 1 to 5 years worth of guaranteed rental income. What’s more, there’s no catch and no fees involved. An interest-only mortgage on an average property in Britain costs £1,080 less per year than the cost of renting, according to the latest data released from property website Zoopla.co.uk, one of The Independent’s partners. Guaranteed Rental Income Looking at properties on the market in the top 50 towns in Britain, the research suggests that owning is more cost effective than renting in 90% of locations around the country. The average asking rent for two bedroom flats nationally is £668 per month, while the average asking price of equivalent properties is £138,769. Here’s how they worked it out… Guaranteed Rental Income An interest-only mortgage at 5% p.a. would cost £578 pm, a saving of £90pm or £21pw compared to renting and leaving renters £1,080 p.a. worse off compared to owners. Using a 90% Loan to Value interest-only mortgage at a typical best buy rate of 4.39% , the cost of renting is even higher. The average mortgage on a two bedroom flat would stand at £124,892 with an interest cost of £457 pm, saving the average owner £2,532 p.a., not including the cost of the 10% deposit. York tops the list of places where renting is currently most expensive compared to buying, with a 76.1% rental premium. Peterborough, Reading, Milton Keynes and Northampton all also have significant rental premiums and are much more cost effective places to own rather than rent. At the other end of the scale, it is currently more cost effective based on asking prices and rents for available properties to rent in Swansea, Cambridge, Bournemouth, Dundee and Huddersfield. Guaranteed Rental Income Lawrence Hall of Zoopla.co.uk, said: “The cost of renting continues to balloon as a result of first-time buyers continuing to struggle to get affordable financing. Even for an interest-only mortgage, it’s generally much more cost-effective to buy. Property prices are low by historic standards, and sellers struggling to sell are reducing asking prices, meaning there are still some bargains to be had for those lucky enough to be able to get a mortgage.” View the original article here 3Let work hard to deliver the best property management service. We work closely with our landlords and tenants to deliver a personal service tailored exactly to their needs. Contact Guaranteed Rent today on 020 8694 8098 to find out more.
http://bit.ly/UJ5Stc
Guaranteed Rental Income | Renting in Britain costs £1,000 more a year than buying Our rent guarantee scheme provides you with between 1 to 5 years worth of guaranteed rental income. What’s more, there’s no catch and no fees involved. An interest-only mortgage on an average property in Britain costs £1,080 less per year than the cost of renting, according to the latest data released from property website Zoopla.co.uk, one of The Independent’s partners. Guaranteed Rental Income Looking at properties on the market in the top 50 towns in Britain, the research suggests that owning is more cost effective than renting in 90% of locations around the country. The average asking rent for two bedroom flats nationally is £668 per month, while the average asking price of equivalent properties is £138,769. Here’s how they worked it out… Guaranteed Rental Income An interest-only mortgage at 5% p.a. would cost £578 pm, a saving of £90pm or £21pw compared to renting and leaving renters £1,080 p.a. worse off compared to owners. Using a 90% Loan to Value interest-only mortgage at a typical best buy rate of 4.39% , the cost of renting is even higher. The average mortgage on a two bedroom flat would stand at £124,892 with an interest cost of £457 pm, saving the average owner £2,532 p.a., not including the cost of the 10% deposit. York tops the list of places where renting is currently most expensive compared to buying, with a 76.1% rental premium. Peterborough, Reading, Milton Keynes and Northampton all also have significant rental premiums and are much more cost effective places to own rather than rent. At the other end of the scale, it is currently more cost effective based on asking prices and rents for available properties to rent in Swansea, Cambridge, Bournemouth, Dundee and Huddersfield. Guaranteed Rental Income Lawrence Hall of Zoopla.co.uk, said: “The cost of renting continues to balloon as a result of first-time buyers continuing to struggle to get affordable financing. Even for an interest-only mortgage, it’s generally much more cost-effective to buy. Property prices are low by historic standards, and sellers struggling to sell are reducing asking prices, meaning there are still some bargains to be had for those lucky enough to be able to get a mortgage.” View the original article here 3Let work hard to deliver the best property management service. We work closely with our landlords and tenants to deliver a personal service tailored exactly to their needs. Contact Guaranteed Rent today on 020 8694 8098 to find out more.
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