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.
Recent posts
Forbes has published a global ranking of stunning locations and one popular picturesque corner of the UK has nabbed top spot.
Over three years after the Mini-Budget took place, we look at what the mortgage market looks like now, showing the difference in mortgage repayments.
The government has announced plans to make buying or selling a home cheaper and quicker with what is being called the “biggest shake-up to the homebuying system in this country’s history.”
More borrowers using equity release
1 Oct 2025
Almost one in five equity release mortgages are now taken out to provide financial support to family.
Buyers purchasing properties sooner
29 Sep 2025
According to industry data, the expected wait for those looking to buy a property has dropped from just over 11 months to less than six months.
It is common for your first mortgage payment to be higher than your subsequent monthly payments for two reasons.
What to do just before you get your keys
24 Sep 2025
Firstly, a big congratulations, you’ve now exchanged contracts! After weeks and months of waiting, you are about to move in. What should you do first?
The chancellor will deliver her second budget this autumn. Due to slow economic growth and high inflation, the government need to manage a £40 billion shortfall in public finances. There have already been reports about changes to taxes including income tax and capital gains tax.
More information
Trusted by
