Nottingham Letting Agent Property Blog

The Council of Mortgage Lending has just published the results of its research into comparing the cost of owning a property versus renting. The report used data from the Valuations Office Agency and the CML's Regulated Mortgage Survey. Recent news reports seem to show that it's cheaper to have a mortgage than to rent, but other research has found home ownership is still more costly. The CML points out that when you ignore the need for a large deposit then home ownership can be cheaper than renting a similar property, but these costs only relate to a certain percentage of the...

Latest figures show that just 66% of homes are owner occupied, down from a peak of 71% nine years ago. This means one third of homes are rented from the council or housing association, or are privately rented. This is the largest percentage seen since 1988 when the push towards home ownership was at its peak. It's no surprise to hear that the major obstacle facing young people is trying to afford a mortgage, and data from the Department for Communities and Local Government shows just 10% of homeowners are less than 35 years of age.Young people have been amongst the...