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Our Mortgage Broker Guide to getting a mortgage in Ilford

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

    1
    Approval/Decision in Principal (AIP/DIP)
    2
    Mortgage in Principal (MIP)
    3
    Mortgage Valuation
    4
    Mortgage Offer

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

Mortgage Broker Ilford Tip 1
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Mortgage Broker Tip 1

Mortgage BrokerTip 2

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.

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.


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.

IG1 1DQ

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

Mortgage Broker Ilford - Recently Completed

  • 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

Mortgage Broker in and around Ilford

Our Ilford mortgage broker can help you with your mortgage app;lication locally or in any of the surrounding areas including Barking, Stratford, Redbridge, Wanstead, Leytonstone, Whitton and Manor Park.

Which banks are local to you?


  • 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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Ilford Mortgage Broker Insider Tips

Book your mortgage valuation as soon as you've had your offer accepted

If you're buying with a mortgage, you won't be able to complete unless the funds have come through to your solicitor. You have to apply for a mortgage, be accepted/get a mortgage in principle but then, once you've had an offer accepted, your mortgage lender has to value the property and only after this, assuming all goes to plan, do you get your mortgage offer with funds in readiness.

You can therefore minimise lost time by booking your mortgage valuation on the day you have an offer accepted. It may take around a week or so for the valuation survey to take place, then you have to allow for a few days to elapse before you have your offer. If you delay, the whole process slows down. 

Additionally, if there's any issues, like your lender undervaluing your property or making you a conditional offer, there might be further delays.

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