Most lenders look for a deposit of at least 5% to 10% of the purchase price, with the best rates typically reserved for those who can put down 15%, 20% or more. Because London property prices sit above the national average, the same percentage represents a larger cash sum than in many other parts of the UK — so deposit planning matters even more here. Shared ownership and specialist first-time buyer products can reduce the cash needed up front. A whole-of-market mortgage adviser can confirm what is realistic for your income, deposit and the borough you're buying in.

Sources: moneyhelper.org.uk — deposit guidance | landregistry.data.gov.uk — Price Paid Data

As a guide only, flats in the more affordable outer boroughs can start in the low-to-mid £200,000s, while family houses in popular or central boroughs frequently run well into seven figures. There is no single "London price" — each borough, and each neighbourhood within it, behaves very differently. Transport links, school catchments, leasehold versus freehold and regeneration all push prices around within a single postcode. Always verify current figures via Land Registry Price Paid Data for the exact area you are considering rather than relying on a London-wide average.

Sources: landregistry.data.gov.uk — Price Paid Data | ons.gov.uk — house price statistics

Shared ownership lets you buy a share of a property (often 25% to 75%) and pay rent on the remaining share, which can lower the deposit and income required to get on the ladder in London. Alongside this, many lenders offer specific first-time buyer products, and some boroughs run local schemes for key workers or first-time buyers. Eligibility rules, share sizes and availability change over time, so check the current position and speak to a mortgage adviser about which route fits your circumstances and chosen borough.

Sources: gov.uk/shared-ownership-scheme | moneyhelper.org.uk

Stamp Duty Land Tax (SDLT) applies across England, including all London boroughs, on the same rate bands. Because London prices tend to be higher, the resulting bill is often larger than elsewhere. First-time buyer relief, the higher rates that apply to additional properties, and the price of the home itself all affect the final figure. Stamp duty is frequently underestimated by movers, so use the government's official SDLT calculator to get an exact amount for your purchase before setting your budget.

Sources: SDLT calculator | gov.uk/stamp-duty-land-tax

As a general guide, the outer-London boroughs to the east and south — such as Barking & Dagenham, Bexley, Croydon, Havering and Sutton — tend to be among the more affordable, while central and prime west boroughs such as Kensington & Chelsea, Westminster, Camden and Hammersmith & Fulham are typically the most expensive. That said, prices vary enormously street by street: a regeneration zone, a new transport link or a strong school catchment can shift values significantly within a single borough. Use the individual borough guides below and Land Registry data to compare the specific areas you're considering.

Sources: landregistry.data.gov.uk | gov.uk/council-tax-bands

You don't strictly need a borough-specific adviser, but a whole-of-market mortgage adviser who understands London — including new-build, ex-local-authority, leasehold and shared-ownership purchases — can make the process far smoother. London transactions often involve service charges, lease lengths, cladding and EWS1 considerations and competitive bidding, all of which affect lending. That's Family Finance is an FCA-regulated protection adviser that introduces clients to carefully selected, FCA-regulated mortgage advisers, and provides protection advice alongside your purchase.

Sources: fca.org.uk/register — adviser checks | moneyhelper.org.uk