It gives you a better level of control over your home and the ability to make improvements as you see fit

If your property increases in value, perhaps through market conditions or improvements made, the gains will be yours

Increasing the value of your home creates equity (the property value less the debt you owe) and allows you to trade up to on your next move

Monthly mortgage repayments can be very competitive compared to what you would pay to rent a comparable property, and potentially even cheaper

The monthly payments you make all contribute towards eventually paying off the mortgage and you owning the property outright

Owning a property outright means that you can reduce your living costs as there will be no rent or mortgage to pay, especially useful later in life

Buying a new property enables you to save on average around £2,600 a year in energy bills compared to owners of existing properties