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Get The Best Mortgage Deals In London And The Entire Capital Area

London’s property market offers a diverse range of options for homebuyers and investors. A sprawling city that offers borough upon borough of popular locations to consider when buying property.

From riverside apartments to spacious detached suburban houses, terraced streets to modern riverside developments, London offers homes to suit every preference and lifestyle.

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How Much Deposit Do I Need for a Mortgage in London?

The average price of property in London is far higher than anywhere else in the country. The average price for a property sits around £510,000. Generally, lenders in London often expect a deposit of at least 5-20% of the property’s purchase price. This means that you will need a deposit of between £25,500 and £102,000 on average.

Saving for a higher deposit can lead to more favourable interest rates and mortgage terms, so it is often a better idea to save closer to 20% of the home’s full value. However, this sum will depend on the price of your property as well as other factors including how much money the bank is willing to lend you.

What Are The Requirments For A Mortgage in London?

There are a number of different requirements when applying for a mortgage based on several factors. To qualify for a mortgage in London, your mortgage lender will often consider the following:

  • Your current income and employment history
  • Your credit rating
  • Any debts you might have 
  • The value of the property you are looking to purchase

Speak to Octagon Capital on 0333 414 1491 for mortgages at a range of different LTVs.

what is a bridging loan

What Are The Costs Involved With Getting A Mortgage In London?

When obtaining a mortgage in London, there are several costs to consider, including:

  • Valuation fees
  • Arrangement fees
  • Legal fees
  • Taxes such as Stamp duty (if applicable)
  • Insurance premiums
  • Maintenance expenses for the property

How Long Does It Take To Get A Mortgage in London?

The time required to complete a mortgage process in London can take anywhere from several weeks to a few months to complete the entire process from initial application to final approval and disbursement of funds.

However, it can vary depending on several factors, including the lender’s processes, your financial circumstances, and the complexity of the transaction. 

What Are the Advantages of Buying a Home in London?

Buying a home in London offers several advantages. London is a vibrant city with a rich cultural heritage, providing an exciting and diverse lifestyle. The city offers world-class educational institutions, renowned healthcare facilities, and excellent transport links, making it an attractive choice for families and professionals.

London’s property market has historically shown strong appreciation, offering potential for long-term investment gains.

What Type of Mortgages Can I Get in London?

There are a number of type of mortgage that you can get in London, these include:

  • Fixed-rate mortgages
  • Variable-rate mortgages
  • Low deposit mortgages
  • Interest-only mortgages
  • Tracker mortgages
  • Government-backed schemes such as Help to Buy 

Take time to consider which mortgage is best for you. There are pros and cons to each type, and it is important to make sure the terms of your loan is suited to your financial situation. 

Can I Get Government Help to Pay My Mortgage?

Yes, there are government schemes available in Leicester to help with mortgage affordability. The Help to Buy scheme, mentioned earlier, is one such program that provides assistance to eligible buyers in purchasing a property. 

London borough councils and local housing associations may also offer support or affordable housing options that can help make mortgages more accessible to certain individuals or families.

Can I Get My Property Remortgaged in London?

Yes, you can remortgage your property in London. Remortgaging involves switching your current mortgage to a new lender or renegotiating the terms with your existing lender. People often consider remortgaging to take advantage of better interest rates, access additional funds, or change the mortgage term.

Can I Buy a Property in London as a Foreign National or Non-UK Resident?

Yes, it is possible for foreign nationals or non-UK residents to buy a property in London. However, there may be additional requirements and restrictions depending on your residency status.

It’s advisable to consult with mortgage advisors and legal professionals who specialise in assisting non-UK residents to navigate the process and understand the specific eligibility criteria and documentation needed.

Where Can I Get A Mortgage In London?

London offers a variety of neighbourhoods and areas that are popular for obtaining mortgages. Each area has its own unique characteristics and amenities, so it’s important to research and visit different neighbourhoods to find the one that suits your preferences and budget. Some of the many locations in London include:

  • Battersea
  • Bermondsey
  • Bethnal Green
  • Camberwell
  • Camden
  • Chelsea
  • City of London
  • Deptford
  • Finsbury
  • Fulham
  • Greenwich
  • Hackney
  • Hammersmith and Fulham
  • Hampstead
  • Holborn
  • Islington
  • Kensington and Chelsea
  • Lambeth
  • Lewisham
  • Marylebone
  • Paddington
  • Poplar
  • Shoreditch
  • Southwark
  • St Pancras
  • Stepney
  • Stoke Newington
  • Tower Hamlets
  • Wandsworth
  • Westminster
  • Woolwich

Should I Use A Mortgage Broker For My Mortgage In London ?

Mortgage brokers offer impartial advice that can help you make decisions on your important mortgage deal. By applying with a broker you will have access to the whole market and not be restricted to one lender’s offer.

Even if you have a bad credit history you can find a mortgage offer in London. Mortgage brokers are driven to get you the best rates to fit your personal financial situation.

How Can I Find A Mortgage In London With Octagon Capital?

Octagon Capital is a free service and you can have a call back the same day as applying. There is no obligation to accept your deal however we hope you choose us to help you start your mortgage journey.

To explore your options with a member of our dedicated team, call us on 0333 414 1491 or email


A maximum fee of 1% of the loan amount is payable – for example on a mortgage of £100,000 the fee would be £1,000, the exact fee will be dependent on your circumstances. For Bridging Finance where the net loan amount is £150,000 or below, the maximum fee charged is £1,995.

SPF Short Term Finance is a trading style of SPF Private Clients Limited which is authorised and regulated by the Financial Conduct Authority (FCA).