Mortgages · London

Mortgages in London. The typical home needs £55,443 down.

The average home in London is £554,430 in the UK House Price Index for August 2026, down 2.2% on a year earlier. With a 10% deposit of £55,443, you would borrow £498,987.

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Mortgages in London: a mortgage adviser Homie with a key and a clipboard by a sold sign

£554,430average home, UK HPI
£55,44310% deposit
£110,886household income at 4.5× the loan
£17,722stamp duty for a first-time buyer

The short answer

Mortgages in London, in 30 seconds

The price: The average home in London is £554,430.
The deposit: 10% is £55,443. 5% deposit mortgages exist, but the rates are higher.
The income: Many lenders cap borrowing at around 4.5 times income, so a £498,987 loan needs roughly £110,886 a year, alone or jointly.
The advice: A free consultation with a specialist adviser looks at deals across the market for your own numbers.

Ten years of prices

London house prices since 2016

From £505,256 to £554,430. Up 1.6% over five years.

Average price each year to August 2026, London.

Nearby

How London compares with its neighbours

Average home in each council area, with the change over five years.

Kingston upon Thames £597,587+12%
London £554,430+1.6%
Bexleyheath £414,833+10.6%

FAQ

Mortgages in London: your questions

How much deposit do I need to buy in London?

At the average price of £554,430, a 10% deposit is £55,443 and 5% is £27,722. A bigger deposit usually unlocks lower rates.

What salary do I need for a mortgage in London?

With 10% down on the average home, the loan is £498,987. At 4.5 times income that means around £110,886 a year. Each lender sets its own limits, so treat this as a starting point.

Have London house prices gone up?

Over five years the average home is up 1.6%, and over the last year it is down 2.2%.

How do London house prices compare with nearby towns?

The average home in London is £554,430. It costs more in Kingston upon Thames (£597,587). It costs less in Bexleyheath (£414,833).

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Mortgages in London. The typical home needs £55,443 down.

Mortgages in London, in 30 seconds

London house prices since 2016

How London compares with its neighbours

Mortgages in London: your questions

Everything else for London

Ready when you are, London.

Services

Other Products

Mortgages in London. The typical home needs £55,443 down.

Mortgages in London, in 30 seconds

London house prices since 2016

How London compares with its neighbours

Mortgages in London: your questions

Everything else for London

Ready when you are, London.

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