First time buyers could save £700 a year

First time buyers may be up to £700 better off each year than people who rent.

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.

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