Renting & Buying

Your deposit must be in a government-approved protection scheme within 30 days. From 1 May 2026 the Renters' Rights Act ended Section 21 "no-fault" evictions and turned fixed-term tenancies into open-ended periodic ones — a landlord now needs a specific legal ground to seek possession. There are also new limits on rent increases and a ban on rental bidding.

You borrow a multiple of your income, secured on the property. Loan-to-Value (LTV) is the loan as a percentage of the price; a bigger deposit means a lower LTV and usually a better rate. Lenders "stress-test" whether you could still pay if rates rose.

Standard buyers pay nothing up to £125,000, then 2% to £250,000, 5% to £925,000, and more above. First-time buyers pay nothing up to £300,000 (and 5% on £300k–£500k), with no relief over £500,000. Wales and Scotland have their own versions.

Lifetime ISA (25% bonus, see ISAs Explained), Shared Ownership (buy a share, rent the rest), and First Homes (a discount for local first-time buyers) can lower the barrier. Each has eligibility rules.

Buying builds equity but ties up cash and reduces flexibility; renting is flexible but builds no equity. The "right" answer depends on how long you'll stay, local prices and your circumstances. Education only — speak to a mortgage broker/adviser for your situation.