Our Mortgage Broker Guide to getting a mortgage in Central London
The mortgage application process has 4 stages regardless of which mortgage lender you use:
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Mortgage Broker Tip 1 | Mortgage Broker Tip 2 |
Keep in mind your APRs at all timesYou should always be aware of how much your borrowing is costing you and look to pay off high interest debts and rather run debt up on items with lower APRs.
A lower APR means lower interest payments which means less cash to shell out. | Capped Rate MortgageThese are a type of variable rate mortgage, based on a lender's standard variable rate (SVR), but one where the rate cannot become higher than an agreed level (and therefore the repayments more expensive).
You can gain from these types of mortgages if the lender's SVR comes down, however you need to be sure that you have enough finance to make monthly repayments as high as the level of the cap, which may itself be set quite high. You often find also that the rate itself is generally higher than for other variable and fixed rate mortgages. |
Central London is most often used to describe the area which is variously covered within Zone 1 of the tube/railway system of London and also where the Congestion Charge zone/Low Emissions Zone covers.
It is an area with a very long history and contains some of the most well-known shops and attractions in the world. It also contains some areas which are considerably residential, such as Belgravia and Mayfair, which contain some of the world's most expensive properties.
Attractions and landmarks are very numerous and a very small selection includes the Houses of Parliament, the London Eye, Madame Tussaud's Waxworks, Trafalgar Square, the National Gallery, the BT Tower, Hyde Park, Oxford Circus and Oxford Street, Regents Park, London Zoo and Westminster Cathedral.