Mortgage Broker in Wigston
Mortgage Broker in Wigston
Two centres, one town
Worth knowing when you are searching: Wigston has two distinct centres.
Wigston Magna is the older part, with the historic core, the framework knitters' heritage and the main shopping area.
South Wigston developed later around the railway and the former barracks, with its own centre, station and character.
They are close but not the same, and values and housing types differ between them. If you are comparing properties, make sure you are comparing like with like — a valuer will.
The housing stock
Framework knitters' cottages and Victorian terraces in the older parts. Some have distinctive tall upper windows built to light hand-frame workshops. These are period properties and worth a proper survey rather than the lender's basic valuation, but they generally mortgage without difficulty.
Interwar and post-war semis across most of the town. Standard construction, gardens, off-road parking — the easiest properties in the area to finance and the core of the first time buyer market.
Ex-local authority housing in several parts of Wigston. This deserves a specific note, because it is often the best value available:
A well-built ex-council house on a decent street can be an excellent first purchase. An ex-council flat may be difficult to finance regardless of price. Establish which you are looking at before you offer.
Non-standard construction appears occasionally in post-war stock. Some concrete and steel-framed system-built types are declined by mainstream lenders. Confirm the construction type early — it is the single most common reason a purchase in this kind of housing falls through.
- Ex-council houses mortgage without difficulty with most lenders
- Ex-council flats and maisonettes are more restricted. Lenders look at the proportion of the block in private ownership, the number of storeys, whether access is by deck or balcony, and the lease
Good ground for first time buyers
Between the price level, the housing type and the transport links into the city, Wigston is a realistic first purchase for people who want a house with a garden.
A few things worth doing in order:
- Find out what you can borrow before you view
- Establish the construction type and tenure history of anything you like
- Get a mortgage in principle — agents here will ask for one
See first time buyer mortgages in Leicester and how much deposit you need.
What we do
Whole-of-market advice from our Enderby office, five miles away, with access to over ninety lenders — including those comfortable with ex-local authority and non-standard construction property.
Speak to us
Call 0116 277 7536 or book a free consultation.
Cedar House, 3 Broad Street, Enderby, Leicester, LE19 4AA.
Nearby
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