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Our Mortgage Broker Guide to getting a mortgage in City of London

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

    Approval/Decision in Principal (AIP/DIP)
    Mortgage in Principal (MIP)
    Mortgage Valuation
    Mortgage Offer

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

Mortgage Broker City of London Tip 1
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Ensure that information on your credit report is correct

A bad score can be down to mistaken information – it might even indicate that your identity has been stolen.

By carefully checking, you can ensure that information held on you is up-to-date. Remember that obsolete addresses can negatively affect your credit rating and if you had previous ties with people who have bad credit, you should ensure that these people are no longer associated with you by corresponding with the agencies themselves.

Variable Rate Mortgage

Variable rate mortgages are mortgage loans where the interest rate payable on the loan can go up or down because it moves along with an underlying index, most commonly the Bank of England base rate (although your lender may have the right to change the rate autonomously, without there being any change in the base rate).

Often, the initial interest rate charged on this kind of mortgage can be cheaper than that offered in a fixed rate mortgage, however this is subject to change. One plus of a variable rate mortgage is that you can leave it at any time without charge; in comparison, early repayment charges levied for leaving a fixed interest mortgage are very high.

The City of London has a unique place in the government of the UK – and indeed within London itself – as it is not only a city but a county and a local government district and is in many ways autonomous. It constituted most of London going back to the 1st century Ad (the Romans settled it after invading). It isn't a London borough and is the smallest county in size in the UK.

It is frequently referred to as just 'the city', particularly in relation to the West of London and is world-renowned as the premier global financial trading district and area and is particularly known for currency exchange and insurance but numerous other financial products, trading and services. It has its own Lord Mayor - and this is quite distinct and much older than the post of the Mayor of London – and the Lord Mayor is elected by aldermen who themselves are elected, uniquely by livery companies. Its local authority is the City of London Corporation which, unusually, has responsibility for a separate police force/service, the City of London Police and other powers, some of which run beyond the boundaries of the city itself.

Landmarks and attractions are many, not least because of the sheer preserved history which can be found in and around the area. They include, for example, the Tower of London, Tower Bridge, Pudding Lane, the Old Bailey (the central criminal courts), Lloyds Building, 30 St Mary Axe – otherwise known as The Gherkin, The Shard building, London Wall, the Barbican and many boutique shops and old pubs such as the George and Vulture and the Counting House.


Property Price Stats for City of London

Average property price in City of London £871,578
% Change compared to last year - 2%
Population of City of London 9,401 (2016 est.)

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

Mortgage Broker City of London - Recently Completed

  • Hunter Street WC1N 1BL
  • Tonbridge Street WC1H 9PE
  • University Street WC1E 6JP
  • Bartholomew Close EC1A 7ES
  • Pine Street EC1 0JQ

Local High Street Banks in City of London

Mortgage Broker in and around City of London

Our City of London mortgage broker can help you with your mortgage app;lication locally or in any of the surrounding areas including West London, North London, East London, South London, South East London, Central London and Westminster.

Which banks are local to you?

  • Halifax Bank plc - 50 Fenchurch St, London EC3M 3JY
  • NatWest Bank plc - 134 Aldersgate St, Barbican, London EC1A 4JA
  • HSBC Bank Plc - 60 Queen Victoria St, London EC4N 4TR

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Mortgage Brokers City of London offering free first consultation (terms apply).

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With no need for face to face meetings you'll be called on the same day by one of our mortgage specialist brokers to discuss your circumstances and can support complex applications for Help to Buy, Right to Buy and Shared Ownership mortgages

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You'll have access to the whole of the market as our mortgage brokers aren't tied to any one mortgage company.

City of London Mortgage Broker Insider Tips

Selling your property? Complete all the required property forms and collect all the required information and return it to your solicitor as soon as possible.

As a seller, the best way you can save time in the conveyancing process is by getting all the information your solicitor needs to them as soon as possible – your tasks are 'front-loaded'!

Anyone buying or selling a home firstly has to prove their ID to the solicitor representing them but a seller you have to complete property information and fixtures and fittings forms (as well as a leasehold information form, if relevant) and return them to your solicitor along with your original title deeds and other relevant information.

This may seem a lot to do, but once you've finished these tasks to the best of your ability, your solicitor can fully devote themselves to making the remaining conveyancing process run efficiently.

Our website explains all the forms and information mentioned; a good place to start finding out more is to click on Property Information Form TA6 explained

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