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Is Renting a Waste of Money in the UK?

22nd June 2023

In the United Kingdom, the decision to pay rent or buy a home is a common dilemma many people face. While owning a home is often seen as a long-term investment, there are several factors to consider before making a decision. This blog aims to explore whether renting is a waste of money in the UK, examining the pros and cons of renting versus buying a home and delving into other important considerations.

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WARNING: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

How much would you like to borrow:

£200
£750
How long would you like it for?
3 months
6 months

Your monthly repayments are:

1
£
2
£
3
£
4
£
5
£
6
£
Total amount to be repaid:
£  
Annual percentage rate:
  % APR

Representative Example: £200 loan for 6 months at a fixed interest rate of 290% pa. Total amount payable is £359.97 in monthly instalments of £73.06, £74.38, £62.99, £59.55, £49.22 and £40.77. This is based on the amount of credit plus interest, no other fees apply. Representative 1264.8% APR


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