It is cheaper to rent than to buy a home in more than half of London’s boroughs, according to property consultant FPD Savills.
It calculated the difference between yearly repayments on an 85% mortgage and the annual cost of renting.

The biggest difference was in Kensington & Chelsea, where renting was 41% cheaper.

At the other end of the scale, though, it was 32.4% cheaper to buy than to rent in Hillingdon.

Dino Patel, policy officer at the London Housing Federation, said the research masked many of the costs of ownership.

He said: “First-time buyers often get a 100% mortgage or have to raise a deposit. Homeowners also have to shoulder maintenance costs.”

Source

Housing Today