Paying off a typical 90% mortgage is cheaper in 36% of cities but in London monthly repayments on loans can be 50% more than rentingBuying a domestic is cheaper than renting the same property in a third of Britain’s towns and cities – all of them outside the south of England – according to recent figures.
Property website Zoopla said servicing a 90% mortgage on a typical two-bedroom domestic costs an average £724 a month across Britain,while renting comes in at £666. Around the country, however, and there are big differences in the relative cost of being a homeowner and a tenant – paying off a mortgage works out cheaper in 36% of cities.
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Source: theguardian.com