London homes are expensive. Your income plays a big role in what you can buy.
Many London homes cost over £500,000. Prices vary by area.
Most lenders offer around 4 to 4.5 times your salary.
A single buyer often needs a high income to afford a London home.
Two incomes can increase your borrowing power significantly.
A larger deposit means a smaller mortgage and lower monthly payments.
A small deposit can help you buy sooner but increases borrowing.
A bigger deposit may unlock better mortgage deals.
Outer London locations are often cheaper than central boroughs.
Remember to budget for legal fees, surveys, and moving expenses.
Government schemes can make buying more affordable.
Your salary, deposit, and expenses all affect affordability.