Our Mortgage Broker Guide to getting a mortgage in Lancaster Gate
The mortgage application process has 4 stages regardless of which mortgage lender you use:
| |
Mortgage Broker Tip 1 | Mortgage Broker Tip 2 |
Dissolve any links to old partnersYou should ensure that any links you have with old partners are removed – otherwise if they have a bad credit rating it will affect yours in turn.
You do this by contacting the relevant credit reference agency and asking for a notice of disassociation. | Capped MortgageThese are a form of variable rate mortgage with the incentive that although repayments can go up or down, they can only rise upwards to an agreed level. If they fall, your repayments reduce in size.
The cap, however, might be set relatively high, meaning you should still plan carefully, and the term during which the cap operates might be fixed; if it is, there may be hefty early repayment charges if you leave before the term has finished. |
Lancaster Gate is a very upmarket housing development, built in the mid-19th century, in the Bayswater district of central London and is just to the north of Kensington Gardens and Hyde Park. There are two long terraces of houses overlooking the park, with a wide gap between them opening onto a square containing a church. The developments are named after Lancaster Gate, a nearby entrance to Kensington Gardens, itself named in honour of Queen Victoria as Duke of Lancaster.
The area is excellently connected, with an eponymous tube station a stone's throw away as well as Paddington Station's main railway terminus and the glories of the West End, whether the shops, bars, restaurants or hotels, are just a short walk away.
Attractions and landmarks 'on the doorstep' are many, and include, among others, Kensington Palace Gardens (which contain Kensington Palace); Hyde Park; Marble Arch; Whiteleys Shopping Centre; the Serpentine (in Hyde Park); the Greek Orthodox Cathedral of the Divine Wisdom (Hagia Sophia); St Mark's Coptic Orthodox Church; Primrose Hill; London Zoo; Regent's Park; Madame Tussaud's Waxworks Museum and the London Planetarium.