31st October 2022

No need to be fearful this Halloween here at Curo

Terrifyingly, the average UK rent has hit record highs for the third quarter in a row - scaring people a lot more than any evil clown this time of year. What’s less petrifying is that there’s a solution to getting stung perennially by rent increases: get on the property ladder and pay your own mortgage rather than your landlord’s.

At Curo, there’s no need to be fearful - help is out there for first and next-time buyers. A number of schemes such as Shared Ownership or Own New, run by Market Mortgage that offers clients a competitive 95% loan-to-value rate, can assist you in buying one of our Homes for Good.

Back to the scary stuff (it is Halloween, after all), a recent study from Rightmove* says that national rents outside London hit a record £1,162 per calendar month. This is only the third time that rents have risen by more than 3% in a quarter since the report launched in 2006.

Demand is said to be up 20% compared to the same period last year, while the total number of available rental properties is down by 9%. Unsurprisingly, this widening gap has seen prices soar and means competition is fierce for available properties. In short, it could be getting a lot worse before it gets better for renters – and waiting for things to improve may prove costly when instead you could be purchasing a brand-new home.

With Shared Ownership, your monthly mortgage payments, service charges and rent often add up to less than what you’d normally pay to rent the same home privately. You can also save a fortune on bills; the average owner of a new-build home saves £435 each year*, plus it’s better for the environment.

Prices for our developments at Mulberry Park, Bath; Eaton Park, Yatton; and Century Park, Bristol start as low as £285,000 and there’s nothing spooky about our team - we’re here to help. Give us a call on 0345 140 5050 to enquire about a new home or to see whether you’re eligible for one of our schemes.

*Rightmove’s Quarterly Rental Trends Tracker

**HBF Greener, Cleaner, Cheaper - Energy report for new build homes: March 2022