How much deposit do I need to buy in London?

There is no London-specific minimum — the same 5% and 10% products exist here as anywhere in the UK. The practical difference is that 5% of a London price is a large sum, and because most buyers are borrowing near their affordability ceiling, a bigger deposit does double duty: it lowers the rate band and it reduces the loan you need a lender to approve. Many London buyers use a gifted deposit from family, which is acceptable to lenders but needs documenting properly.

Can a London broker help if I am buying an ex-local-authority flat?

Yes, and it is one of the more useful things a broker does here. Ex-council flats are mainstream security for most lenders, but a minority apply restrictions — on blocks above a certain number of storeys, on deck or balcony access, or where the majority of flats in the block are still council-owned. Knowing which lenders apply which restriction avoids a valuation being downvalued or the case being declined weeks in.

Does my bonus or commission count towards how much I can borrow in London?

Usually yes, but partially. Lenders commonly use 50% of a regular bonus, some use 100% where there is a consistent two-year history, and a few will not count it at all. The same applies to commission, overtime and shift allowances. Because London incomes lean heavily on variable pay, the choice of lender can change your maximum borrowing significantly for the same salary.

How much Stamp Duty will I pay in London?

Purchases in London are subject to Stamp Duty Land Tax, which is charged in bands on the price you pay. First-time buyers get relief up to a set price, and there is a surcharge if you are buying an additional property such as a second home or a buy-to-let. Because the thresholds are changed at Budgets, check the current bands on GOV.UK, or ask your broker or conveyancer to confirm the figure for your purchase before you commit to a deposit.

Are the mortgage brokers listed in London FCA-authorised?

MortgageMatch lists FCA-authorised mortgage brokers and advisers. Before taking advice, check the adviser and the firm on the Financial Services Register, confirm what they charge and ask how many lenders they can access. We do not sell your details to lead buyers — you contact the adviser directly.

All cities · Greater London

Mortgage brokers and advisers in London

70 independent, FCA-authorised firms covering London and the wider Greater London area. Contact them directly — we never sell your details.

London prices, high LTVs and complex incomes make broker advice especially valuable across the capital's 32 boroughs.

London

ResidentialCommercialFirst-Time Buyers+1 more

The London housing market, and what it means for your mortgage

London is the hardest UK market to buy in on a normal salary, and that is what shapes almost every mortgage conversation here. Prices sit far above the national picture while income multiples do not stretch to match, so the binding constraint for most buyers is not the interest rate but the maximum a lender will advance. That pushes London borrowers towards larger deposits, longer terms, joint applications and lenders whose affordability models are more generous than the high-street default.

The capital is really dozens of separate markets. Zone 1 and the prime central boroughs are dominated by flats and cash-heavy buyers; the inner ring — Hackney, Peckham, Walthamstow, Brixton — mixes Victorian terraces with converted flats and heavy first-time-buyer demand; the outer boroughs from Croydon and Bromley to Barnet and Bexley are where family houses and school catchments drive moves. Ex-local-authority flats are everywhere and are perfectly mortgageable, but a minority of lenders restrict them by block height, balcony access or the percentage of privately owned flats in the block. New-build towers along the river and in regeneration zones bring their own issues: service charges that affect affordability, and cladding and building-safety documentation that a lender will want to see before offering.

Mortgage situations that come up in London

High loan-to-value pressure. Saving a large deposit against London prices is slow, so many buyers are borrowing at the top of what the lender will allow, where small differences in affordability criteria change what you can buy.
Complex and variable income. Bonuses, commission, share awards, LLP partnership drawings, contractor day rates and dual-currency pay are all common in London and are treated very differently from lender to lender — some count 100% of a bonus, others half, others only after two years of history.
Leasehold flats. Lease length, ground rent structure, service charges and building-safety paperwork can all restrict lender choice, and a short lease is a mortgage problem long before it becomes a legal one.
Shared ownership and other part-buy routes. London has more shared-ownership stock than anywhere else in the UK, and only a subset of lenders offer mortgages on it, with their own rules on maximum share and rent-plus-mortgage affordability.
Buy-to-let stress tests. London rental yields are compressed relative to prices, so buy-to-let purchases here frequently fail a lender's interest coverage test even when the property lets easily.

Buying in England: Stamp Duty Land Tax and the local process

Buying here follows the England and Wales process: you pay Stamp Duty Land Tax on the purchase, with a surcharge on second homes and buy-to-let, and neither side is committed until contracts are exchanged. Most flats are leasehold, so the length of the lease, the ground rent and service charge, and any outstanding cladding or fire-safety paperwork all affect which lenders will accept the property as security. A broker will usually ask about the tenure before anything else when you are buying a flat.

Mortgage specialists in London by situation

These are the specialisms that come up most often locally. Each page explains how UK lenders assess that kind of case and lists the London advisers who handle it.

First-Time Buyers mortgages, London Shared Ownership mortgages, London Self-Employed mortgages, London Buy-to-Let mortgages, London

Residential in London Commercial in London Bad / Adverse Credit in London Later Life / Equity Release in London Help to Buy in London Fixed Rate in London Variable Rate in London Interest-Only in London Tracker in London

Guides worth reading before you speak to a London broker

How much mortgage can I actually afford in the UK? →Shared ownership mortgages: how they really work →Gifted deposits and mortgages: rules and paperwork →

Nearby cities

Advisers often cover a wider area than the town they are based in.

Mortgage brokers in Watford Mortgage brokers in St Albans Mortgage brokers in Luton Mortgage brokers in Guildford Mortgage brokers in Reading Mortgage brokers in Brighton

Search every broker covering London

Filter the full directory by location, mortgage type and whether the adviser charges a fee. You contact them directly — no lead auctions, no follow-up spam.

Search London brokers

Mortgage FAQs for London

How much deposit do I need to buy in London?: There is no London-specific minimum — the same 5% and 10% products exist here as anywhere in the UK. The practical difference is that 5% of a London price is a large sum, and because most buyers are borrowing near their affordability ceiling, a bigger deposit does double duty: it lowers the rate band and it reduces the loan you need a lender to approve. Many London buyers use a gifted deposit from family, which is acceptable to lenders but needs documenting properly.
Can a London broker help if I am buying an ex-local-authority flat?: Yes, and it is one of the more useful things a broker does here. Ex-council flats are mainstream security for most lenders, but a minority apply restrictions — on blocks above a certain number of storeys, on deck or balcony access, or where the majority of flats in the block are still council-owned. Knowing which lenders apply which restriction avoids a valuation being downvalued or the case being declined weeks in.
Does my bonus or commission count towards how much I can borrow in London?: Usually yes, but partially. Lenders commonly use 50% of a regular bonus, some use 100% where there is a consistent two-year history, and a few will not count it at all. The same applies to commission, overtime and shift allowances. Because London incomes lean heavily on variable pay, the choice of lender can change your maximum borrowing significantly for the same salary.
How much Stamp Duty will I pay in London?: Purchases in London are subject to Stamp Duty Land Tax, which is charged in bands on the price you pay. First-time buyers get relief up to a set price, and there is a surcharge if you are buying an additional property such as a second home or a buy-to-let. Because the thresholds are changed at Budgets, check the current bands on GOV.UK, or ask your broker or conveyancer to confirm the figure for your purchase before you commit to a deposit.
Are the mortgage brokers listed in London FCA-authorised?: MortgageMatch lists FCA-authorised mortgage brokers and advisers. Before taking advice, check the adviser and the firm on the Financial Services Register, confirm what they charge and ask how many lenders they can access. We do not sell your details to lead buyers — you contact the adviser directly.