4 JULY 2008 - CHEAPER TO BUY THAN RENT!

According to latest research from Abbey the cost of buying property is falling below that of renting.

In Abbey’s Rent V Buy Index it showed that buying is £10,500 cheaper on average over a 25 year period, up from just £5,800 six months ago.

Despite increased mortgage rates, falling house prices as well as increased rent in comparative terms mean that a person is better off, in terms of payment cost by getting on the property ladder.