Research shows nearly half of renters would buy tomorrow if mortgage payments matched their rent

New research reveals a clear tipping point in aspiring homebuyer behaviour, with nearly half of renters saying they would buy immediately if monthly mortgage payments matched what they currently pay in rent.

A survey found 47% of renters would buy immediately if their mortgage repayments matched their current rent, while 31% said paying the same or less than rent was one of their biggest motivations for buying. The research surveyed 1,001 UK renters planning to buy their first home in 2026 according to research by Mortgage Advice Bureau.

The findings highlight an important point for first-time buyers: the biggest barrier is not always the desire to buy, but understanding whether the monthly mortgage payment is affordable.

Renters want clarity on mortgage costs

Many tenants assume buying will be much more expensive than renting, especially when mortgage rates, deposits and property prices are in the news.

But the monthly comparison can sometimes be closer than expected. A mortgage adviser can calculate how much a renter may be able to borrow, what deposit they need, and how the monthly payments compare with their rent.

MAB’s research also found that 41% of renters want to own so they have more freedom to decorate or keep pets, while 37% are motivated by building long-term wealth. Only 17% said flexibility was a key benefit of renting, suggesting many tenants are renting because they feel they have to, rather than because they want to.

Could tenants buy the home they already rent?

For some renters, the opportunity may be even closer to home. Trinity Financial recently published a guide explaining how tenants may be able to buy their rental property from their landlord using a concessionary purchase mortgage.

This type of mortgage may help where a landlord agrees to sell the property to the tenant below market value. Some lenders may allow the landlord’s discount to count as part, or all, of the buyer’s deposit. This can be particularly useful for tenants who can afford monthly mortgage payments but have struggled to save a large deposit while paying rent.

You can read Trinity’s full guide here: Can tenants buy from their landlord with a concessionary purchase mortgage?

Why landlords may consider selling to tenants

Some landlords are selling buy-to-let properties because of higher mortgage costs, tax changes and tighter regulation. Trinity’s guide explains that selling directly to an existing tenant can sometimes be attractive because it may reduce estate agent fees, avoid viewings, limit void periods and create a smoother sale.

For tenants, buying from their landlord can mean purchasing a home they already know, avoiding competition from other buyers and potentially using a landlord discount to reduce the cash deposit needed.

Carlo Pileggi, Head of Mortgage Products at Nationwide, was quoted as saying: “As this research shows, when renters realise that mortgage payments could be comparable to what they already pay each month, homeownership can suddenly feel achievable - and renters might be surprised at how much they can borrow and how the monthly costs compare to their rent."

Speak to a Trinity Financial adviser today

The mortgage market moves fast — and the right advice can make a significant difference to the rate and deal you secure. Get in touch with our team to discuss your options.

Call Trinity Financial on 020 7016 0790 to secure a fixed or tracker rate mortgage, book a consultation, or use our appointment calendar

The information contained within was correct at the time of publication but is subject to change. It is for general information purposes and is not advice.

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