![people buying their first house may be £700 a year better off than those who continue to rent.](https://usercontent.one/wp/www.lsjnews.co.uk/wp-content/uploads/2015/03/House-260x146.jpg)
Research released today shows that first time buyers could be £700 better off than people who rent properties.
The study was carried out by The Halifax and found that people who buy their property are on average £62 a month better off.
However, with the current difficulties associated with obtaining a mortgage and fewer people under 40 owning their own property, its likely that people in Lincolnshire will have to continue paying these higher fees.