How long have you had the mortagage though and what type is it?. I am talking about starting from scratch now. i.e first time buyers. If you have had a mortgage for a while, then invariably it is going to be less than the rent on an equivalent house, due to the massive increase in house prices in recent years. Of course, if you've just bought it, then i'm obviusly wrong, but probably also you're location in the country is a factor, i don't know. But i know with certainty that for me, a mortgage is considerably more expensive (20-30% for the sake of arguing) than renting for the exact same property, and that is even after a hefty deposit. Plus, running costs are higher, but that is something else. Or i could opt for an interst only mortgage which probably equates roughly to what the rent would be.

And 'buying to let' took off for a while, but it is hardly as profitable (as in income - not just someone payng the mortgage for you) as it was at one time, if at all, because of this very situation. Unless of course you have the money to buy houses cash, or with very little mortgage.