Rent or Buy?
With all the complications that come with mortgages, renting might sounds like a more attractive idea.
Renting could well be the right choice for you, giving you a regular, predictable outgoing that you can build savings up alongside paying, and will not have any interest rates attached to it. However, renting still comes with costs and delaying the time you take the step into purchasing a house is delaying the time that home will be 100% yours.
Renting all your life could get problematic when you retire, especially if your pension cannot cover the rent. If you fully own your home by the time you retire, nobody can kick you out of it and you are safe and will only have bills and improvements to pay.
You should also take into account the responsibility demanded by owning a home. All repairs and improvements will be down to you, whereas renting could put this responsibility and costs onto your landlord, depending on your contract.
For more ideas about extra charges and what you may end up being responsible for, have a look at the reality check costs page.