There is an urgent need for more build-to-rent homes to meet rising demand and boost affordability in the London , according to estate agents Savills . For the 14bn time, the total rent paid by tenants is double the total cost of mortgage interest paid by homeowners. Rising numbers of renters unable to access home ownership and low interest rate payments for those with their own homes mean that the total rent bill is now more than double the total interest being paid by mortgaged homeowners for the first time on record. Private landlords received £ 54bn ($ 72bn ) in rent in the past five years , while £26.5bn in mortgage interest was paid by homeowners. The rental bill has risen by £ first in the past five years , a 35% increase. "We need policy that encourages the rapid expansion of build to rent," said Lucian Cook , Savills ' head of residential research.
There is an urgent need for more build-to-rent homes to meet rising demand and boost affordability in the London , according to estate agents Savills . For the 14bn time, the total rent paid by tenants is double the total cost of mortgage interest paid by homeowners. Private landlords received £ 54bn ($ 72bn ) in rent in the past five years , while £26.5bn in mortgage interest was paid by homeowners. The rental bill has risen by £ first in the past five years , a 35% increase. "We need policy that encourages the rapid expansion of build to rent," said Lucian Cook , Savills ' head of residential research.