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Our Mortgage Broker Guide to getting a mortgage in Newham

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 Newham Tip 1
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Mortgage Broker Tip 1

Mortgage BrokerTip 2

Variable Rate Mortgage

This is one of the two main types of mortgage – the other being fixed rate mortgages. It is the interest rate that varies with this type of mortgage and it varies unpredictably.

This means this type of mortgage is a risk. The initial interest rate is likely to be lower than it would be for a fixed rate mortgage, however it can increase after a period of time.

Help to Buy

The Help to Buy equity loan scheme allows you to pay a 5% deposit, get a 20% equity loan, and then a Help to Buy mortgage of 75%. For the first five years, the equity loan has no interest on it, but after the five years it develops an interest rate of 1.75%.

The property you use your Help to Buy Mortgage on has to be a new build house. In London the equity loan is 40% which means you get a Help to Buy Mortgage of 55% rather than 75%.

Click on Help to Buy Mortgages to find out more

The London Borough of Newham is a London Borough that was formerly part of the county of Essex. It is situated just 5 miles east of Central London.

The University of East London has the Stratford Campus and the Docklands Campus within Newham. There are also ten libraries within the district including Beckton, Manor Park and North Woolwich. The museum in the district is the Three Mills, which was a trading site for roughly a thousand years.

There are a few theatres in the district including Stratford Circus Arts Centre, the Theatre Royal Stratford East and St Mark’s Church that is now the home of Brick Lane Music Hall.

E13 8RY

Property Price Stats for Newham

Average property price in Newham £413,155
% Change compared to last year 4%
Population of Newham 341,000 (2016)

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 Newham - Recently Completed

  • Prince Regent Ln, London E13 8RY
  • Romford Rd, London E12 5AD
  • Barking Rd, London E16 1HF
  • Pier Rd, London E16 2LH
  • Terrace Rd, Plaistow, London E13 0PB

Local High Street Banks in Newham

Mortgage Broker in and around Newham

Our Newham mortgage broker can help you with your mortgage app;lication locally or in any of the surrounding areas including Isle of Dogs, Barking, Ilford, Woolwich, Leyton, Walthamstow and Dagenham.

Which banks are local to you?

  • NatWest - Gredley House, 1-11 Broadway, London E15 4BQ
  • Barclays Bank - Barking Rd, London E13 9PL
  • Nationwide - Westfield Ave, Stratford City, London E20 1EN

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Mortgage Brokers Newham 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.

Newham 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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