Average UK Rent Hits £1,349 – Is It Time to Consider a Remortgage?

As of early 2025, the average monthly rent in the UK has surged to £1,349, according to the latest data from HomeLet. For many tenants, this steep rise in rent is stretching budgets to the limit. If you’re currently renting – or even if you’re a homeowner with a mortgage – now may be the perfect time to assess your financial position and consider your options.

At Remortgage Expert, we help homeowners across the UK make smarter mortgage decisions. Whether you’re looking to reduce your monthly payments, release equity, or simply escape the rent trap, understanding the current rental landscape is key to making informed choices.

The Rising Cost of Renting in the UK

The average rent of £1,349 per month represents a significant increase from previous years. With demand outpacing supply in many parts of the country, tenants are facing record-high housing costs – often without the long-term benefits that come with homeownership.

Some key rental market insights:

London continues to lead with the highest average monthly rent, often exceeding £2,000.
The South East and South West are also seeing above-average increases.
Demand for rental properties remains high as affordability challenges and mortgage barriers keep many first-time buyers on the sidelines.

Renting vs. Owning: What Are You Really Paying For?

Let’s break down the cost comparison.

If you’re paying £1,349 per month in rent, that’s:

Over £16,000 per year spent on housing with no return.
Money that’s not building equity or contributing to your future.
Subject to increase at the landlord’s discretion.

Compare this to owning a home with a mortgage. Even with higher interest rates in recent years, monthly mortgage payments on a £200,000 home could be less than £1,349, depending on your deposit, term, and interest rate.

Could Remortgaging Help You Save?

If you already own a home and are feeling the pinch of rising mortgage rates or household bills, remortgaging could be a smart financial move.

Benefits of remortgaging:

Lower your monthly repayments by switching to a better rate.
Release equity to pay off debts, renovate, or help a family member get on the property ladder.
Switch to a fixed rate for more certainty in a volatile market.

At Remortgage Expert, we compare deals from across the market to find the best option for your needs – often with no broker fees and fast turnaround.

Trapped in Rent? Here's How You Can Break Free

If you’re stuck renting and want to explore homeownership, now is the time to act. Rising rents are unlikely to slow significantly in the near term, meaning many tenants will continue to face affordability pressures.

Steps to take:

Assess your affordability – Use our free online mortgage calculator.
Check your credit score – A strong credit profile helps secure better mortgage deals.
Speak with a mortgage advisor – We can guide you through your options, whether you're a first-time buyer or looking to move.

Final Thoughts

With the average UK rent now at £1,349 per month, many people are asking: Is renting really worth it? If you’re a homeowner, it might be time to revisit your mortgage deal. If you’re a renter, consider whether now is the time to make your move toward homeownership.

At Remortgage Expert, we’re here to help you navigate your options – and potentially save you thousands in the process.

Need mortgage or remortgage advice?

Contact Remortgage Expert today for a free, no-obligation consultation.