July 22nd, 2025
With rent prices continuing to rise, it’s no surprise that many self-employed professionals are wondering: is Buying Better Than Renting in 2025?
The answer isn’t one-size-fits-all—but if you’re a contractor or freelancer, it’s a question worth digging into. In this blog, we’ll break down the key financial differences, debunk some common myths, and help you decide what’s right for you.
Monthly Cost Snapshot
According to the latest figures from the Office for National Statistics, the average monthly rent in the UK hit £1,339 in May 2025 (Source: Office for National Statistics). Meanwhile, mortgage costs for many first-time buyers with a 10% deposit are hovering around £1,328/month (Source: The Times).
This shows that for many renters, monthly mortgage payments are now comparable—or even a bit lower—than rent, making buying a real consideration.
Why Buying Makes Sense Now
- You’re investing in yourself – while renting gives you flexibility, buying a home builds equity. That means your monthly payments are going towards something you own, not your landlord’s pocket.
- Cost stability – you might also benefit from fixed-rate mortgage options that keep your payments predictable, which is something renting can’t guarantee. With inflation pushing rents higher each year, locking in your costs could bring peace of mind.
- Long-term ownership – Over time, investing in your own property with the right plan could create long-term financial security, and the opportunity to borrow against your home for future needs.
When Renting Still Makes Sense
That said, buying isn’t the right move for everyone—especially if you’re not planning to stay in one place for at least 3–5 years, or if your income is temporarily unstable. Renting allows for more flexibility and less responsibility (no repairs or property taxes).
Deposits also remain a major hurdle for many. If you haven’t yet saved at least 5–10% of your target home’s value, it may be better to focus on building your deposit while renting affordably.
Still, if you’re consistently paying high rent, it’s worth exploring what you could afford as a buyer. You could even calculate your breakeven by using a rent vs buy calculator (e.g. NerdWallet) to see at what point buying becomes cheaper over 5–10 years.
Want to See Your Numbers?
Wondering whether you’d even qualify for a mortgage as a contractor or self-employed professional? That’s where CMME comes in.
We specialise in helping independent professionals secure mortgages—even with non-traditional income. We’ll look at your situation holistically, considering your full earning potential and long-term contracts.
Get in touch with our team of mortgage advisors to get an individual assessment: