It is now 10% cheaper to own your own home than rent

Their research shows that the costs associated with home ownership have reduced by 37% over the last five years, with average house prices declining by 13% and mortgage rates by 2.3%, whilst average rents have jumped by 13% over the same period.  There are two reasons for this, prices have come down from their 2007 peak, so it is cheaper to buy a home in the first place.  The second is that interest rates have now been at the historic low of 0.5% since March 2009, making mortgages much more affordable.

Now is a perfect time to be making the switch from renting to owning.  The ease of mortgage finance, coupled with the successful Helpt to Buy scheme, is making it possible for far more people to get on the property ladder.  The differential between renting and buying is probably as big as it is going to get, the Halifax calculates that on average a family will be £73 a month better off owning their own home.  Help to Buy is assisting many to make the switch.  Come and visit our showhomes to find your perfect Abel home.