Renters twice as likely as mortgage borrowers to have no savings - What Mortgage

Renters twice as likely as mortgage borrowers to have no savings – What Mortgage

Private renter likely pay more than mortgage borrowers, and many of them have to cut back their basis essentials to get by. Every month they have to spend half of their check for the landlord and the amount will continue increase up to 25% in future. More than for million households in the UK now rent home from a private landlord due to the decline of homeowner in UK. With all private renters who already moved to private rented and living under budget. They can use an app to help them make money as far as possible

Key Takeaways:

Renters are financially worse off than mortgage borrowers. One in three have no savings.
Half a renter’s salary goes towards rent. That might soon be more as rents are forecasted to increase by 25%.
Home ownership is declining. More people will face the financial insecurities a rental situation might cause.

“Mortgage borrowers are also twice as likely (37%) as private renters (16%) to view their income as sufficient.”