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  Darren - pay rent or pay a mortgage - there is very little difference on the cost and at the end of it, with a mortgage, you own a home and have no rent to pay.
  
  This week I met with some long term clients who were right to buys, they were always sensible people and though they have moved twice, both times upmarket, they still managed to clear their mortgage 5 years early, after just 20 years. They also have built up a lot of savings and soon an endowment (bought by them before they became my clients) matures and they will not have any mortgage to pay off with the maturity, they can invest the money and will be retiring very early with that and the other money they have built up. They have never had a combined family income of over £30k gross and have children. As I say the outcomes are down to the choices you make and buying your own home is the best thing people can do provided they are sensible with affordability.
  
  If not for right to buy they would be locked into rent....
  
  I do not like debt and I am always urging clients to clear it down and to pay off mortgages early and above is a result of people who always did what I advised. But debt taken on with a view to a capital purchase like a mortgage, at a sensible level is a positive thing.
  
  Debt taken on through such as credit cards to pay for day to day spending or just for the latest gadget is madness. In fact the kind of debt Brown landed the government with, debt to pay excessive benefits is the definition of financial insanity.

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