The Average Monthly Mortgate Repayment in K & C is £3,062!
9th February 2010
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Reported in The Standard 8.2.10 - Property Consultant, Mira Bar-Hillel

The average mortgage repayment for a first-time buyer in London who can find a 25 per cent deposit is £1,240 a month — more than half the average wage, research reveals today. found that the lowest average repayments are in Barking and Dagenham, at £760 a month, followed by Newham, Bexley and Waltham Forest where monthly mortgage payments are £821, £851 and £860.

The most expensive borough, Kensington and Chelsea, has an average monthly mortgage repayment of £3,062.

Second costliest is Westminster, followed by Camden and Hammersmith & Fulham. A 25 per cent deposit for London buyers is an average of almost £80,000, more than two and a half times the national figure of £30,000.

First-time buyers with smaller deposits face much higher monthly costs — if they can get a mortgage.

Francis Ghiloni, commercial director at, said: “Anyone looking to take a first step on to the property ladder should try to bide their time until they have a sufficient deposit to secure a best-buy mortgage.”

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