Properties to buy Walthamstow: What you need to know

August 14, 2015

Buying a home is a huge decision, there are many factors to address before taking the plunge and putting forth a considerable sum of money. It is important to have explored all areas from mortgage rates, to deposits, communities and surrounding amenities, before you commit to such a huge investment. First of all, is buying right for you financially? Have you fallen foul of the UK’s obsession with buying for the sake of it, or are you interested for all the right reasons? Can you afford to buy and is this better for you financially than renting. It is better to concentrate on bigger-picture financial security, than risk financial ruin in a desperate attempt to get on the ‘housing ladder’.




When it comes to a deposit, you must be prepared to put away at least 10 or 15% to be considered for a more competitive mortgage deal. This could end up seeming like a lot, but there are handy government schemes available.


If you’re a first-time buyer, you could get up to £3,000 from the Government by saving with a Help to Buy ISA. You’ll need to put away up to £200 each month, and the Government will add 25% on top. You can also save an extra £1,000 when you first open it, meaning you can save £1,200 in the first month and you’ll get £300 extra.

Other Costs

Remember, your savings can’t be used solely for the deposit. The money you have at hand needs to also be used for the likes of the mortgage arrangement fee (typically £1000) and a valuation fee (cost varies according to lender and purchase price, but factor in £300-500). There are also additional legal fees and Stamp Duty Fees (charged on properties over £125,000). Surveys cost about £400-700 pounds and then you have your removal costs, DIY costs and any additional furnishings you may have to buy.

Mortgage in Principal

To get the ball rolling you need to arrange for a Mortgage in Principal (MIP). This is where the banks will let you know how much they will let you borrow in theory, prior to you having a property singled out. Proof of your deposit and MIP can give you a big advantage when putting in an offer.

The Area

Before making an offer it is good practice to have a thorough look at the neighbourhood and make sure that it is indeed the sort of place that you would want to live and work in. Do you have young children that are nearing school age? Are the schools nearby of a good started? If you are concerned about crime or the general ambiance of the area, speak to a local police office or a neighbourhood watch official.

What we can do for you.

Here at Waltham Estates, we produce in-house guides to give you a comprehensive overview of the steps involved in buying your home. Our panel of approved mortgage brokers and solicitors are also available to assist you, should you need to obtain a mortgage or wish to appoint a Conveyancer to act in the purchase of your home.
Once you find your new home, we appoint a dedicated sales adviser to answer your queries and to ensure your purchase is completed as smoothly as possible. It really couldn’t be easier.

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