Our Mortgage Broker Guide to getting a mortgage in South Kensington
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 |
Get wise to APRsAPRs are a fundamental to understanding how much your borrowing will cost you. They vary greatly according to what form of borrowing is being taken on and how high your credit score is. You are well advised to shop around between products and types of borrowing available to you where APRs are concerned and you must find out what your credit score is – if it's on the low side, you're likely to be charged higher APRs on borrowing or even for your application to be refused. | Family Deposit MortgageWith family deposit mortgages, a family member places cash in a linked special savings account to help another family member secure a mortgage to buy a home and where the money in the account is held as security against the mortgage not being paid off.
The cash is held for a fixed period of time, which can be quite long (many years). The risk is that the mortgagor defaults on repayments so the helper family member's money is at risk. However, savings interest is payable on the linked account, even if at a comparatively low rate, and if the correct repayments are made, there's no other cost to the helper family member. |
South Kensington is a particularly affluent district of West London and building increased greatly there in the mid-19th century.
It is an excellent mix of cosmopolitan shops and streets, well-known venues and organisations and beautiful Victorian residential properties and squares.
Landmarks and attractions around the locale include Hyde Park, the Science and Natural History Museums, Imperial College, the Brompton Oratory, Boujis night club (now closed) and the Royal Albert Hall.