Where’s best in the Capital?

London will always be a property hotspot, unsurprising since it’s undeniably one of the most exciting cities in the world. Who wouldn’t want to live in such a buzzing metropolis?

But, while the Big Smoke is one of the most desirable places in which to live, it has some of the most expensive house prices, which can be off-putting to would-be homeowners who don’t know the areas well.

Research from estate agents Ellis & Co could help point you in the right direction if you are considering buying a property in London. As reported by House Beautiful, the study has found that Thamesmead in south-east London is the most affordable place in the city in which to buy a property, with Barking and Dagenham following close behind according to Foxtons in an earlier report.

Some of the cheapest places to buy in the capital include Lower Edmonton, Upper Edmonton, Abbey Wood and South Norwood. The rest of the top ten most affordable places with good property prices include East Ham in Beckton, Plumstead in Woolwich, Anerley in Penge, Plaistow and Tottenham areas of London.

Discussing the results, Ellis & Co said: “The property market has boomed over the past years, thanks to the stamp duty holiday, which has given a lot of first-time buyers the opportunity to get their foot on the property ladder.

“Coupled with the introduction of the new government-backed five per cent deposit scheme, designed to help homebuyers, the market isn’t showing any signs of slowing down just yet.”

If budget isn’t necessarily an issue when buying residential properties, you might be tempted by the more expensive properties in London. Kensington and Chelsea in West London were found to be the most expensive of them all, with the average house price set at around £2 million. Marylebone and Covent Garden are definitely not affordable places to buy in London, they came top of the list of most expensive places to live.

Buyers may also be able to take advantage of rate wars between mortgage providers. According to the FT Adviser, HSBC and Nationwide are offering really low rates along with Cumberland, Santander, TSB and Hinckley & Rugby Building Society.

Finance expert at Moneyfacts Rachel Springall explained, however, that borrowers would be wise to seek out independent advice, since they may not be eligible to take advantage of these offers, or they may not have sufficient equity in their homes.

Whether you’re looking to buy in central London or greater London, we agree that it’s important that you get specialist advice to ensure you consider all your options and find the solution that works best for you. Speaking to an independent mortgage broker in London will allow you to find out what options are open to you and what will best suit your personal circumstances.

Come to Greenacre Financial Services, we offer a choice of around 100 lenders and up to 25,000 different mortgage schemes. We have years of experience in helping people just like you to find the right mortgage for your needs.

Buying a first home or new home in a London borough or anywhere in the UK
is an exciting time, and we aim to keep it that way, taking away as much stress and hassle as possible.

For more information about any of our services, or for advice on affordable places to buy in London, please don’t hesitate to get in touch by calling us on 0203 3939 222. We are happy to arrange out-of-hours appointments (these can be in-person or via FaceTime/WhatsApp) so to find out how we can help, get in touch today.

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Hannah D
Hannah D
07:42 09 Sep 19
I would fully recommend Greg and Greenacre Financial Services. As a first time buyer I was daunted by the process of... finding the right mortgage for me however Greg made the process really simple, clear and quick. He was always available to answer any questions and happy to explain everything. I wouldn’t hesitate in recommending Greenacre FS to my friends and family.read more
Jessica Cohen
Jessica Cohen
19:33 26 Aug 19
We first met with Greg in May for advice as we had adverse credit and irregular pay and didn't think a mortgage was in... our reach. Less than two weeks later Greg had fully arranged a great deal for us on our first mortgage. He was available whenever we needed him, 7 days a week and in the evenings. We cannot thank Greg enough for helping us buy our first home!read more
Seren Fletcher
Seren Fletcher
08:56 24 Aug 19
Would highly recommend Greg and Greenacre Financial Services. Was extremely professional and helpful. Our mortgage... wasn’t straight forward due to my husband being self employed but Greg was very knowledgable and managed to find us a really good mortgage. Looking forward to working with him again in the futureread more
13:24 23 Aug 19
Graham at Greenacre was excellent in helping me get a mortgage for my house purchase. He was always available when... needed, provided an efficient service and was very knowledgeable. Highly recommended!read more
Ian Hatter
Ian Hatter
11:07 16 Aug 19
What can I say, Greg has been absolutely amazing in sorting out a mortgage for me I never thought was possible. It has... meant I have been able to buy a house, a few months ago, I would never have dreamed of being able to buy after talking to high street lenders. He worked exceptionally hard and always kept me updated with every step of the process. Buying a house is extremely stressful, but Greg took all that stress away from me. I cannot recommend Greg enough to anyone looking to buy a property. Thank you so much for your help Greg, it's greatly appreciated.read more
Sean Kelly
Sean Kelly
15:27 30 Jul 19
10/10 EXCEPTIONAL service and result. Highly recommend. Greg and the Greenacre Financial Services team were fast,... knowledgeable, and honest. All the qualities you want and need. Very pleased I was recommended to Greenacre. Customer for life!read more
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