A mortgage firm claims the lettings industry is ripping off students by overcharging them.
Mojo Mortgages says it has compared the rent paid by students and non-student tenants on student letting agency websites and on Rightmove, Zoopla and PrimeLocation
“Overall, we found it was more expensive to use a student-specific service in 13 of the 19 cities investigated, with several student letting agents charging upwards of £60 more a month, in some locations” claims Mojo.
The highlights of its study include student letting agents in Exeter charging £69 more per person per month for a four bedroom fully furnished house than letting agents on Rightmove.
Similar instances were apparently found in Norwich, Newcastle and Swansea, all with the average rent being over £50 more on student-specific sites.
In two of the 19 cities - Bristol and Bournemouth - Mojo claims a student can save a significant amount of money on rent per month by finding a student house on a student letting agent. However these are exceptions to the rule.
“University students in London unsurprisingly pay the most - forking out an average of £961 a per person per month. Next in line is Durham, where the average rent sits at £546 a month. [Next] are Oxford and Exeter where you’ll pay £519 and £507 each month” it adds.
The cheapest city for university rentals is Belfast, where rent sits at £246 a month, followed next by Cardiff at £319, and £324.