Split the rent and save

Tenants in Swindon could save themselves £240 per month by flat sharing and not living alone.

Property website Rightmove, using property prices on their website have found that Outside of London, Swindon is second only to Newcastle in the savings to be had if you shared a two bedroom flat rather than living alone in a one bedroom.

Throughout the UK ‘sharers’ will save themselves on average £210 per month with Newcastle topping the list at £246 and Swindon following just behind at £240.

Over a twelve month period a Swindon flat sharer could save themselves as much as £2880 which could be put towards a house deposit.

“The potential saving of renting and sharing a two bed rather than a one-bed flat is before factoring in reduced costs from splitting the bills.” commented Sam Mitchell, head of lettings at Rightmove.

He continued, “It could be a good option for renters looking to save up for a deposit to buy or other financial commitment. The Government has various well-publicised initiatives to encourage the home ownership that some tenants would love to achieve, and while sharing can have its pitfalls it is a potentially lucrative solution.”

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