Renting property 'the most sensible option'

Posted: 28 Apr 2011 12:55:29 GMT

People may want to consider renting, rather than buying, following the comments of one expert.

Renting could prove a more sensible option than buying property for many in the UK at present, if the comments of one expert are anything to go by.

Tim Lambert, head of consulting at Ducalian, said this could be the best route to take due to the current economic climate.

The industry figure explained that rents are likely to stay the same month-in, month-out, while mortgages have the potential to increase significantly across the next few years.

He observed: "Buying may look attractive now, but it may not be the case in three or four years and buyers need to be aware of what they may be paying then."

Unexpected repair bills and the like could provide further financial headaches for those who choose to purchase property rather than rent, Mr Lambert pointed out.

David Lawrenson, private renting sector expert at LettingFocus.com, recently claimed the rental market appears to be fairly strong at present.
 

© Houseladder Ltd