UK cities where buying with a 5% deposit can be cheaper than renting

Research from Lloyds reveals that in many major cities across the United Kingdom, purchasing a home with a 5% deposit can be cheaper than renting.

• Lloyds analysis indicates that typical first-time mortgage payments are lower than average monthly rental costs in nine out of eleven UK cities.
• In London, high rental prices make buying a home with a mortgage loan at a 5% deposit increasingly appealing for first-time buyers.
• The current interest rate environment has shifted financial dynamics, making the cost of homeownership more attractive compared to renting across various regions.