Renting for life in London costs over £400,000

A report from Santander suggests that the bill for lifetime renters in London is upwards of £410,400, based on current rental prices — compared with £296,000 in the rest of the country.

Santander’s head of mortgages, Miguel Sard, claims the figures prove the financial benefits of home ownership.

“Renting may appear to be the most financially viable option for some people, but in the majority of cases it isn’t the most cost-effective,” he says.

Source: The Times Evening Standard

We say: Yup: as a rule, all other things being equal, buying outright is likely to be cheaper than renting. So maybe we’ll see a return of slavery soon. Hmm. Maybe you can take economic analysis too far.

David Whiscombe


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