Buying a home is cheaper than renting but you need a £27k deposit | Mail Online
First-time buyers would be better off purchasing a house than renting, but only if they can afford the hefty deposit needed.
The Halifax Buying vs Renting Review, which has tracked a typical two bedroom flat for a first-time buyer across the UK over the last three years, found that the cost of buying a home for a first-time buyer is more than £100 a month cheaper than renting.
However, it all depends on whether the first-time buyer can get together a deposit, which at average of 20 per cent for first-time buyers racks up to £27,127.
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