Overpaying when buying a home in the UK

Exactly where you choose to live to can make a huge difference to what you pay.

Within an area like London, a house in trendy Islington will cost two or three times more than its neighbouring boroughs.

Be careful of buying somewhere near a trendy area which ain't actually in it.

There is a theory of "shrinkage and expansion" whereby during boom times the borders of hot spots like Islington will expand. Houses that are really just outside it will be labelled and sold as being in the hot area.

However during a recession these "borderline" houses will lose the most value as it becomes clear in the cold light of day that no, Mr Estate Agent, this road is not in Islington. Doh!

A petty but safe guide is to follow the postal code. If you are on one side of a street which has the right postal code whereas your neighbours opposite have the "wrong" postcode then your home will be worth that much more when push comes to shove.

Bear in mind the differences in price of being just in or just out of a fashionable area in this regard; during recession you can buy cheaply - and sell for more when times are better. But if you buy such a property at the height of a boom you may lose out.

On this subject, check out some tricks used by the professionals to get the most money out of you for the minimum spend. Here

Read enough? Just want a quote? To get your best mortgage quote quickly and easily we can put you in contact with a recommended mortgage adviser. It's free, completely confidential and there's no obligation at all. Simply fill out the form below

Important note about your credit rating

Many websites don't make it clear that filling in their mortgage enquiry form means you might be credit checked.

This can put you at risk.

UK Mortgage lenders may assume an enquiry you have aleady made to another lender means you were turned down - and not that you are in fact carefully shopping around and rejecting the bad deals.

The best way around this significant problem is to ask an independent mortgage adviser to make anonymous enquiries for you.

Without risking your credit score an adviser can find you the best available mortgage deal. They will also know how likely you are to be accepted by the lender if you decide to make a formal application.

If you would like a recommended adviser to check out the best deals for you, anonymously, simply fill in the quick form below.

" Hmm..." You might think; "Won't I be hounded by a salesman hungry for my business? "

This is the most common question we hear from our users.

The answer is no you won't.

Firstly your enquiry is only passed to ONE person on a carefully vetted list of independent advisers.

Secondly, these mortgage advisers are professionals. Even when the market is slow they are busy people. There many people who need to move homes, or get a remortgage and are looking for advice all the time. Regardless of the state of the property market, life goes on.

So the advisers don't have time to hassle people. It just doesn't work like that. No one is gong to be forced into taking out a mortgage unless they really need one.

The advisers are very used to talking with people, perhaps like yourself, who are only "dipping their toes" into the water.

Many people just want an initial quick chat and if they feel comfortable will ask the advisor to contact them again later - often in several weeks or months. As a professional, the adviser will simply diarise this and call back at the appropriate time. There is no obligation at all.

(In the unlikely event that you ever feel at all "hassled" by someone on our list please let us know immediately. We have never heard of this. But if it happened we would definitely want to know).

We tell you everything you need to win the race for that dream home... how to get your seller's Estate Agent onto your side... how to get properties for a 30% plus discount.. how avoid being gazumped at the last minute and more.

Click on your chosen subject below to access this invaluable FREE information.

Value of Property	£	(eg 159000)
Borrow How Much?	£	(eg 125000)
Your Mortgage Type
Are you First time buyer?		Yes No
Have you found your property?		Yes No
Country
Sorry ! The amount you want to borrow is less than £25,000. This is the minimum allowed for a mortgage. But don't worry ! You could get the money via a personal loan. I want a free no obligation loan quote Click OK No thanks. I will change my borrow amount to more than £25,000 Click Cancel
Do you want to Self Certify?		Tick this box if you need to self-certify your income. (Self certified means unable to easily provide proof of income, e.g. if you are self-employed etc.)
Have you:		Had a CCJ or Default registered against you? Let us know because we can help you
		Missed one or more secured loan or mortgage payments in the last 12 months? Don't let that stop you from getting your mortgage needs met.
		Been declared bankrupt or had an IVA? Not necessarily a problem. Just let us know
First name:
Surname:
Date of birth:
Please enter your current postcode:
Address:		(click drop-down arrow for correct address) OR click here to enter address manually
Address1:
Address2:
Town:
County:
Email address:
Daytime phone number:
Evening phone number:
Please use this space to tell us the best time to call you and any other info you may wish to add:

Value of Property	£	(eg 159000)
Borrow How Much?	£	(eg 125000)
Your Mortgage Type
Are you First time buyer?		Yes No
Have you found your property?		Yes No
Country
Sorry ! The amount you want to borrow is less than £25,000. This is the minimum allowed for a mortgage. But don't worry ! You could get the money via a personal loan. I want a free no obligation loan quote Click OK No thanks. I will change my borrow amount to more than £25,000 Click Cancel
Do you want to Self Certify?		Tick this box if you need to self-certify your income. (Self certified means unable to easily provide proof of income, e.g. if you are self-employed etc.)
Have you:		Had a CCJ or Default registered against you? Let us know because we can help you
		Missed one or more secured loan or mortgage payments in the last 12 months? Don't let that stop you from getting your mortgage needs met.
		Been declared bankrupt or had an IVA? Not necessarily a problem. Just let us know
First name:
Surname:
Date of birth:
Please enter your current postcode:
Address:		(click drop-down arrow for correct address) OR click here to enter address manually
Address1:
Address2:
Town:
County:
Email address:
Daytime phone number:
Evening phone number:
Please use this space to tell us the best time to call you and any other info you may wish to add:

Home Buying Guide
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How to Find Your New Home / Property
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Don't overpay for being almost trendy

Important note about your credit rating

Browse over 200 Free Mortgage Tips

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Home Buying Guide Click for Full Contents

How to Find Your New Home / Property Click for Full Contents

Don't overpay for being almost trendy

Important note about your credit rating

Browse over 200 Free Mortgage Tips

Site Help

Home Buying Guide
Click for Full Contents

How to Find Your New Home / Property
Click for Full Contents