First time buyers where to buy in london

Savills is selling homes at full market value at Courtyard within the same scheme. The market has changed dramatically since last year, he explains. They were nervous. This year they are going for it. Sands End, a collection of converted warehouses and factories and Victorian work cottages near Chelsea Harbour, is another popular spot and has a micro community of first-time buyers. In Islington the typical first-time buyer is looking for a one-or two-bedroom apartment in a converted Victorian house as near to the Upper Street buzz as possible, explains Nick Moore of Knight Frank.

This means some can afford to stay central. The home buying budget goes further at the Highbury end of Upper Street — and further still if you buy towards Stoke Newington and Finsbury Park. Call Knight Frank on ES Money. The town lost its retail anchor, Debenhams, during the pandemic.

Property ranges from seven-figure houses near its common, downward. For more bang for your buck, you could look around Bridge Road, south of the town centre, where there are more period houses.

These smaller properties have smaller price tags. Or you could look around Rockingham Road, just north of the centre, where you could buy a three-bedroom Thirties semi for the same sort of price. Buying agent Laura Johnstone, director of London Home Search, was brought up around Greenwich and has noted more young buyers coming to her to help them find a home in Lee, Lewisham. They are attracted to the area, she said, for its well-priced period housing and its good transport links — trains to Cannon Street or Charing Cross take less than half an hour.

Period housing is also what brings young buyers to Thornton Heath, just north of Croydon. Its turn-of-the-century houses and period flats are well priced by London standards. Transport links are another plus point for Thornton Heath with services to London Bridge or Victoria taking about half an hour.

With property prices as they are, getting a mortgage for a home in London can be a daunting task, particularly for first-time buyers. As a general rule of thumb, mortgage lenders will loan up to 4. When it comes to your deposit, bigger is generally better. One further factor to consider before applying is your credit rating. Make sure yours is in good shape by checking out your credit reports Experian, Equifax and TransUnion are the main ones and ask to have any mistakes you spot corrected immediately.

If required, use the information in your report to take steps to improve your rating. Something like getting on the electoral roll is simple to do, but could be what makes the difference between acceptance and rejection.

When researching and applying for your mortgage, you have the option of going directly to the lender. Depending on how they work, there might not even be a fee.

As raising a deposit for a first home tends to be challenging, the Government Help to Buy scheme is designed to provide support.