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Your home may be repossessed if you do not keep up repayments on your mortgage.

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How to get a mortgage - or remortgage - in Ilford


Ilford is a large town located around 9 miles north-east of the centre of London. It is a large retail, commercial and residential area. It is the main town of London's Redbridge Borough. Ilford is made up from wards including Clementswood, Loxford, Goodmayes, Newbury, Mayfield, Seven Kings, Barkingside, Clayhall, Fullwell, Fairlop, Cranbrook and Valentines.

A great nearby diversion is Valentines Mansion & Gardens - a well-appointed house built in the late 17th century with beautiful gardens and grounds - which also has an aviary and a cafe. The Hospital Chapel of St Mary & St Thomas, on Ilford Hill, parts of which were built in the 12th century, is well worth a visit; it's small but contains many interesting monuments and work from master craftsmen.

The mortgage application process has 4 stages regardless of which mortgage lender you use:

  • Approval in principal (AIP)
  • Mortgage in principal (MIP)
  • Mortgage valuation
  • Mortgage Offer

Read about the full mortgage process here - What is the mortgage process?

Mortgage Broker Tip 

Don't repeat past mistakes

Make sure you service any new lines of credit you take up correctly by ensuring that you make the correct repayments on time and by not overextending yourself, primarily. These actions will boost your credit score in the longer term.

Over time, your credit score will improve and any past mistakes you've made will have a decreasing impact.
Top Mortgage Lenders 

Endowment Mortgage

Endowment mortgages refer to types of mortgage products associated with interest-only mortgages and so are therefore only open to non-residential customers at this time. Your repayments are made purely to pay for the interest levied with an interest-only mortgage. To pay off the capital, you need another investment vehicle and an endowment mortgage is one such approach to paying off the capital at the end of the mortgage.

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You make regular payments into an endowment, which is itself an investment fund, during the lifetime of the mortgage with the hope and expectation that the fund will grow large enough to cover the capital at the time of the mortgage expiring. Endowment funds always force you to take out life cover so the capital is covered in the event of your death.

There is no guarantee, however, that the endowment fund will actually cover the mortgage's capital when the mortgage expires, leaving a significant shortfall. This is because investment funds can of course decrease in size as well as increase, there is no absolute surety of success. This result was sometimes observed when residential clients used to be able to take out endowment mortgages and is one of the reasons why interest-only mortgages are no longer accessible to residential customers.
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Property Price Stats for Ilford


Average property price in Ilford £351,148
% Change compared to last year 14%
Population of Ilford 168,168 (2011)


The property price data is sourced from the Land Registry's UK House Price Index and you can view up to date property prices by clicking - Land Registry House Price Index >> Land-Registry

RECENTLY COMPLETED MOVES IN Ilford

  • 81 Marlands Road, Ilford, Essex, IG5 0JJ
  • 93 Craven Gardens, Ilford, Essex, IG6 1PW
  • 8 St Helens Road, Gants Hill, Ilford, Essex, IG1 3QJ
  • 85 Gordon Road, Ilford IG1 1SJ
  • 9 Tryfan Close, Ilford, Essex, IG4 5JX

Local High Street Banks in Ilford

Find a mortgage lender near you:
Some branches may have closed down - Call 0207 112 5388 for a Mortgage Broker covering Ilford

  • Lloyds Bank Plc - 102 - 104 High Rd, Ilford IG1 1DS
  • HSBC Bank Plc - 126 High Rd, Ilford IG1 1DA
  • Lloyds Bank Plc - 377 Eastern Ave, Ilford IG2 6LW

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Mortgage Broker Tips for the Conveyancing Process

Instruct a solicitor even before your offer has been accepted.

If you instruct a solicitor at the earliest possible time, once your offer on a Ilford property is accepted, you will be ready to get things underway and the seller will see how intent you are on purchasing their property. 

By being organised you are indicating to the seller that you should be able to complete in good time and the process will be as smooth as possible, thereby potentially increasing your chance of success.

Click to get your FREE Fixed Fee Conveyancing Solicitors Quote* *Fixed Fee – No Sale No Fee – On all Major Lender Panels