Scottish homeowners save almost £2,000 a year more than renters

Scottish first-time buyers saved around £1800 last year on keeping a roof over their heads compared to renters, a bank has found, but wannabe buyers face paying out an average deposit of £35,000.

Last year, the average rent for a three-bedroom house grew by 2 per cent to £699 while buying costs went up by 5 per cent to £548, the Bank of Scotland said, giving homeowners a monthly saving of £151 - or £1817 annually.

But, north of the border, new buyers will have to put down an average deposit of £34,975.