Owning a home is cheaper than renting in every part of the UK, but first-time buyers need an average of £51,000 for a deposit to get on the property ladder, new research suggests.
Prospective first-time buyers could make a saving of £2,268 per year on average if they move from renting to owning, a study from Santander Mortgages found.
It compared monthly mortgage payments with expected rents and found big savings for homeowners across the country.
