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Buying a property continues to be cheaper than renting
While renting is the usual first step for those who aspire to owning their own home, new research from Bank of Scotland reveals first - time buyers in Scotland shows the average monthly costs associated with buying a three-bedroomed house in December 2017 was £503 - £103 less than the typical monthly rent of £606 for the same sized property.
The bank’s mortgage director, Graham Blair, says: “Considering the financial benefits of home ownership and a sustained period of low interest rates, it’s no surprise buying continues to be cheaper than renting, particularly in Scotland, where first-time buyers now make up half of the housing market.”
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