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Taking the rise

In the south east it's a toughie getting a foot on the property ladder, but at least renting's ok. Oh no it isn't, because rents are rising at such a rate that most will soon not even be able to rent a home.

Lettings specialists LSL have even done a study of rents, and reckon that rent has been going up £50 a month for the last two years.

If you don't have enough money to escape the nightmare that is renting, this is a massive outlay and ensures that you'll have a job raising the money needed to buy a place.

Rents have risen 6.6% over the last year in London, 6% in the West Midlands and 4.3% in the North East of England. Also up is rent arrears – in August 10.7 percent of all rent was either late or went unpaid. In July this figure was only 9 percent.

The average rental fee is £713 a month. Convert this into a repayment mortgage and you've got enough to pay off a 25-year loan in the UK costing around £163,000, putting down a 15% deposit beforehand.

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