12 Aug 2025
Rent costs increased more than mortgage costs since 2022
There has been a rise in both rent and mortgage costs over the last three years, with renters seeing a greater increase in their monthly payments than those with a mortgaged property.
Research from the Bank of England’s mortgage data showed that monthly rental payments rose by £221 between 2022 and 2025, while mortgage payments increased by £218.
Average costs
The average rent in the UK is now £1,283 per month, whereas the average mortgage payment is £1,154. The reason for the hike in rental costs is down to the high demand for homes in the private sector, as fewer landlords are investing.
Rent vs mortgage costs
There has been an even bigger hike in rental costs in some areas than others – places such as Oldham, Wigan, and Bolton have increased by 31%. In some areas in London, costs have jumped up by £400 since 2022.
Source: Zoopla, 2025
If you would like to get onto the property ladder but are trapped in the rental cycle, there is a 100% deposit-free product available. Also known as the track record mortgage, it allows buyers who haven't owned a property in the last three years to purchase a home.
To find out if you fit the criteria, get in touch: 01628 507477 or email us.
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