[Boudica]

20-30 years of rent payments could easily pay off the mortgage on a house. Houses can appreciate in value over time, whereas you'll get no return at all from paying rent on an apartment. That said, apartments normally offer certain amenities, like less maintenence/liabilities. For short term arrangements apartments are more reasonable.

I completely agree with this. I'd also like to add, in some places (especially in my experience in the UK), rent can actually be significantly more expensive than a mortgage. However, due to past financial issues or low credit scores, those who are financially struggling, may often be left with no choice but to pay for the more expensive rent. There are also many alternatives, with different schemes helping people to get onto the property market.

In the long-run, I sincerely hope to be approved for a mortgage. As things stand now, I wouldn't get a penny approved xD