This guide breaks down exactly what buyers in Sidcup need to understand before applying for a mortgage or viewing properties.
Why Sidcup Remains a Hotspot in 2025
- Better value than Eltham, Blackheath and Bromley
- Fast trains to London Bridge, Cannon Street and Charing Cross
- A strong mix of 1930s semis, Victorian terraces and new-build flats
- Good and Outstanding-rated schools across DA14 and DA15
How Much Deposit Do You Need?
Many buyers overestimate the deposit required. In reality:
- 5% deposit – available on some schemes
- 10% deposit – wider lender choice, better rates
- 15%–20% deposit – most competitive products
How Much Can You Borrow in 2025?
Lenders typically offer:
- 4× income standard
- 4.49× income for stronger cases
- 5× income in limited scenarios
Affordability checks are stricter, with lenders examining:
- Credit commitments
- Childcare costs
- Car finance
- Subscription spending patterns
Fixed vs Tracker Rates in 2025
Fixed Rate
- Stable monthly payments
- Protection from rate rises
- Good for budgeting
Tracker Rate
- Moves with the Bank of England base rate
- Potential savings if rates fall in late 2025
- More flexible for buyers planning to move or overpay soon
Common Issues First-Time Buyers Face
Property Condition
Some older properties near Station Road, Sidcup High Street or North Cray require upgrades lenders want evidence for (e.g., electrics, roofing, damp).
Credit History
Minor issues are usually fine. Severe late payments or large unsecured debts may reduce borrowing power.
Self-Employment
Two years of accounts is typical, but some lenders accept one year with strong evidence.
Costs Buyers Often Forget
- Solicitor fees
- Search pack
- Survey or valuation
- Stamp duty (if applicable)
- Moving costs
- Initial furnishing costs
How to Improve Your Chances of Approval
- Register on the electoral roll
- Reduce credit utilisation
- Avoid large purchases before applying
- Keep bank statements clean and consistent
- Get an Agreement in Principle before viewing
Why Local Brokers Make a Difference in Sidcup
Local brokers understand Sidcup’s market pricing, property types and lender preferences. We deal with DA14/DA15 cases daily, so we know which lenders work best for different scenarios.
- Accurate affordability assessments
- Fast AIPs to support offers
- Understanding of local estate agent expectations
- Experience with properties requiring minor works
Ready to Get Started?
If you’re buying in Sidcup, we can help you understand your options clearly and navigate the entire mortgage process with confidence.
Contact our Sidcup team today and take the first step toward owning your first home.
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