Halifax have issued a press release advising that the gap between the costs of buying and renting is at the lowest in almost a decade and the gap is down 59%. This is according to the latest Halifax Buying vs. Renting Review where figures show that buyers are saving £366 per year whereas in 2017, they were saving £900, although homeowners are still better off than renters when all costs are taken into consideration.
It adds that new Buy to Let mortgages have slowed down and first-time buyers are driving the number of house purchasers with a mortgage. Read more.