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The attractions of renting

As the UK property market continues to struggle more and more people are looking towards renting properties in the short to medium term until their own financial situations are clearer and the UK property market is more stable. While many people would suggest to you that renting property is "dead money" this is not always the case and there are a number of positive factors to take into account.

Renting gives you the flexibility and the opportunity to move to either your own home or another property at relatively short notice and without having to sell a property. Renting also gives you the opportunity to perhaps put some money away for your own property in the short to medium term and then look to step onto the ladder as UK property prices stabilise - assuming we see liquidity return to the mortgage market. The ability to rent a property in a specific area, in which you may be interested in buying your own property, and "test the water" is also something which many people will be acutely aware of in the current economic environment.

This is not to say that there are no issues with rental accommodation, perhaps a difficult landlord, a lack of free money to save for your own property or similar issues, but if you are unsure about buying your own property then renting a home is your next step up the ladder.

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