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Mortgage Brokers in London

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Pete Mugleston

Author: Pete Mugleston - Mortgage Advisor, MD

Updated: December 9, 2021

The expert brokers we work with have arranged mortgages for customers buying a property in North West London, South East, Central London, Canary Wharf, London Bridge, Mayfair, Greenwich, Stratford, Richmond, London Victoria and Islington. Use the contact details below to get in touch.

Our office

4th Floor, 18 St. Cross Street,

Contact us

02030 002650 or make an enquiry

Open hours

Mon – Thurs: 9am – 6pm
Fri: 9am – 5pm
Weekend: Closed

Why buy property in London?

If you live and work in London, renting your home can be hugely costly which makes owning your own property highly covetable, although it can seem out of reach to many. Despite the fact that house prices in London are notoriously expensive, buying at the moment may be a good idea, if you have the opportunity.

If you’re in a position to buy, here are four reasons why now could be a good time to take the plunge…

  • Falling Property Prices
    Buying property in London never goes out of fashion and, currently, cheap mortgages and falling house prices means that now is a great time to buy. At the time of writing (March 2020) uncertainty around the implications of Brexit has meant that fewer houses have been selling each month and house price growth remains low, having fallen to its lowest rate in six years in summer 2019.
    On top of this, there’s some indication that things are getting easier for first-time buyers in London due to falling house prices. In the summer of 2019, overall house prices fell by 2.8%, although the price many first-time home buyers fell by 3.4%. This seems to suggest that smaller houses and small flats are getting cheaper.
    First-time buyers are in a stronger position than many existing homeowners looking to climb up the property ladder.
  • Low value of pound benefits foreign buyers
    If you’re buying in London, using foreign currency could make a property purchase even better value due to the weak value of sterling. This is particularly true for those people buying at the top end of the London housing market
  • Business and cultural capital
    With more five star hotels than anywhere else in the world, London is considered to be amongst the best cultural and business capitals in the world. Even following Brexit, London attracts the uber-rich and ranks as the fifth richest city in the world.
  • Investment opportunity
    Whether you’re buying a home to live in or a buy-to-let property, London property will always be a great investment to have. Historically, London property prices tend to double every 10 years. If you’re able to buy now, you can profit from holding the property for a decade and could profit from a resale or by redeveloping in future years to maximise your investment potential.
Get Started Ask Us A Question

Ask Us A Question

We know everyone's circumstances are different, that's why we work with mortgage brokers who are experts in all different mortgage subjects.

Ask us a question and we'll get the best expert to help.

Feefo 5 Stars
1 of 3
2 of 3
3 of 3 Send!

Areas within London

The London property market is vast, and covers every area inside the M25. While a London estate agent will specialise in a tight geographical area, a mortgage broker needn’t necessarily have detailed knowledge about a specific area.

When it comes to arranging your mortgage, the most important thing a broker needs to know is which lender is likely to offer you the best deal, based on your specific circumstances.

If you’re self-employed, have an unusual income type, or you’re looking to get a mortgage with bad credit or are buying a property classed as non-standard construction, you’ll need a broker experienced with arranging these types of mortgages. The right mortgage broker can save you time, hassle and money by knowing which lenders to approach and who to avoid, based on your individual circumstances.

Get in touch and we’ll match you with a whole-of-market broker who can help you find the most suitable mortgage at the best available price, taking all your circumstances into account.

Most in-demand areas

The following areas are currently amongst the most popular boroughs and districts to buy in London:

  • Barking and Dagenham: is the cheapest London borough for property, with an average house price of £300,517 (as of March 2020). With good transport links to central London, and these are set to improve further once Crossrail is fully operational. The area also boasts museums and a number of parks.
  • Havering: also in East London is a little further out than Barking and Dagenham with a number of tube stations connecting to the District Line, as well as being on the London Overground line. It has plenty of green space to attract buyers, including zoos, nature reserves and parks.
  • Leyton: slightly more expensive than Barking, Dagenham and Havering yet still in East London. With an average property price of £468,000 (as of March 2020), it sits a short walk away from Epping Forest and has a buzzing community with its own football club and a pedestrianised shopping street populated by unique and independently owned shops.
  • Battersea: may not be cheap (the average property price is £840,062, as of March 2020), but you’re pretty central and Battersea Park is a big draw for buyers looking to upsize and start a family. The Battersea Power Station development offers lots of new homes and retail space which is occupied by restaurants, bars and independent stores.

If you want to see what kind of mortgage you could get to buy property in these particular areas of London, or elsewhere, get in touch and we’ll introduce you to a mortgage broker who can get you the right mortgage for your London property.

Average London house prices

The average price of London property is currently £598,340 while the average weekly rental prices is £755.

So whether you’re looking to invest in a property to live in or find a great buy-to-let proposition what deposit will you need to get the best mortgage deal?

Average deposit required

In London, first-time buyers are expected to scrape together around £106,000 or 26% of the average house price in the capital.

For several years now, people have bemoaned the fact there’s never been a harder time for a first-time buyer to get a foot on the property ladder.

And it’s true. In the last 20 years, house prices in England have risen by 173%, while the average pay for young people aged between 25 and 34 has grown by a comparatively tiny 19% during the same period.

40% of the same range of young adults can’t afford to buy even the cheapest houses in their area, even with a low minimum 10% deposit.

Do I need to find a mortgage broker near me?

With the connectivity possible in the modern world, there’s little reason to feel stuck with a broker just because they are geographically close to you. Most people arranging a mortgage these days never actually meet their broker face-to-face because everything can be achieved in a phone call or via email.

For the best service and most suitable mortgage, you’re better off to focus on finding an experienced whole-of-market mortgage broker, like those we work with. With access to mortgage providers and products across the entire UK, a whole-of-market broker can assess every available deal out there, giving you a far more comprehensive understanding of the market than you would be able to discover with your own research.

A good broker will consider not just which mortgage is best priced for you, but also which lenders are likely to underwrite your loan and who to bypass to save time on a wasted application.

Whole-of-market brokers arrange bespoke solutions for their clients and offer a tailored one-to-one advisory service that could save you not only countless hours of precious time, but also thousands of pounds on your mortgage.

Find our contact details at the top of the page click here

About the author

Pete, an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete found great success in going the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained, coupled with his love of helping people reach their goals, led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.

Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for OMA of course!

Read more about Pete

Pete Mugleston

Mortgage Advisor, MD

FCA disclaimer

*Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.

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