Buying better than renting in some areas but not all

Over recent months first time buyers have experienced huge difficulties when it comes to getting a mortgage to purchase a property, with the global credit crunch resulting in far tighter credit conditions, and with lenders demanding higher deposits and increasing the interest rates on mortgage loans. With house prices falling, and expected to fall further, those that now commit to purchasing a home could end up facing negative equity in addition to the other problems. Read more

Tags: mortgage loans, savings thousands, homeowner, loan, addition, rent