Previously, Skinpston's chief executive Stuart Haire had shared that the newAs he told The Times:"We recognise that ultimately if you are going to end up paying more in rent than you would on a mortgage, that feels like a good mortgage loan."data shows that in February the average price of a UK home was £288,000, costing buyers £14,400 for a deposit at 5%.
Although the new mortgage is a step closer to helping renters buy properties, some campaigns think that the lack of affordable homes still remains a key issue. As Generation Rent shares a lack of affordable homes makes it very hard for first-time buyers to get a foot on the ladder along with the increasing cost of rent.
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