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If you are looking a mortgage broker to help you with your purchase in Woking, we can help. More details are in this article.
If you are planning to move to Woking, you should learn about the place where you intend to live like what is available in the town and perhaps the history behind it too.
Woking is a historic town and one of the largest in Surrey. It’s famous for a number of reasons including being the landing place of Aliens in War Of The Worlds and the place where Paul Weller grew up, even naming one of his albums after the road he lived on, Stanley Road.
Woking is home to the oldest purpose built mosque in the UK and the famous Brookwood Cemetery which has been serving the public since the mid 1800’s.
The town has access to Basingstoke Canal, some great parks, large commons and within easy reach of London and the M25.
The town has continued to see significant investment in recent years with new bars, restaurants and hotels opening in the centre.
Woking remains very popular with workers that commute to London on a daily basis.
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Where are some good areas to buy a property around Woking?
Everyone will have a different idea of what areas they like the most but some common answers are as follows:
- Horsell – this is within walking distance of the time, it has some local shops, a selection of pubs and a large common great for dog walkers. It has the famous sandpits on Horsell Common, the setting for HG Wells War Of The Worlds.
- St Johns – located around a 5 minute drive from Woking. It has St Johns Lye which is great for recreational use and access to the canal. It also has a local pub and well regarded restaurants.
- Brookwood – this is another great commuter spot as it’s the last station before Woking on the line to Waterloo. Some commuters argue that it’s a better commuter station than Woking as it’s where you are more likely to get a seat on the train before it fills up at Woking! Locals also enjoy it’s village feel and it is within easy reach of a local pub and large supermarket.
For more ideas of things to do in Woking, visit this website.
What are the schools like in Woking?
Schools may be an important factor when looking to buy your home and many people make it a priority to buy a home within a certain catchment area.
Woking has a selection of good schools. In terms of secondary schools, some of the well known ones are Winston Churchill, St John the Baptist and Woking High. A well regarded secondary school is Gordon’s School located near West End.
How much deposit would I need for my residential property in Woking?
The answer to this will depend on a number of different things like the overall property value, the lender that you go to and your own personal circumstances. For example, if your credit score is not 100% perfect, a 5% deposit may not be an option.
Generally though, the minimum deposit for a residential mortgage that you can put down is 5%, so for a property value of £300,000, this would mean a deposit of £15,000 if your income was enough to cover the remaining £285,000.
It is best to take advice from a professional mortgage broker so they will be able to look at your situation and confirm the amount that you would need to put down.
Is Woking a good area for commuters?
One of the main advantages of Woking as a place to live is the transport links to London. A fast train from Woking into Waterloo makes commuting very convenient as it only takes around 30 minutes. This makes Woking a very popular town for commuters which may be a good thing when you come to sell your property.
The COVID pandemic saw a lot of people living in London choose to move out of the city and choose spots like Woking that are within easy commute but offering more space and greenery.
Not only is Woking great for the railway line, it is also within short distance of the M25 meaning easy reach of Heathrow and Gatwick airports.
Is Woking a good area for buy to let investors?
Woking has remained a solid area for buy to let investors as employment has remained high and there are some large employers in the area, on of the most famous being McLaren.
The town also has many companies located there and with a great railway link to London Waterloo, it is a popular choice for tenants that commute to Woking.
According to the website Numbeo, Woking has offered a yield of around 3.5% to 4% in recent years so although not so strong compared to other parts of the UK, capital appreciation of property in Woking has remained steady.
To find out your options and advice around buy to let investing, you should speak with a professional mortgage adviser.
Is Woking a good area for commercial investors?
If you’re a commercial property investor looking for a good place to invest, Woking may be the answer.
If you are planning on occupying your commercial premises yourself, Woking is within easy reach of the M25 and London by train making visiting the premises easier than locations that may be more remote.
If you are looking to buy a commercial property to then let out, Woking is home to many businesses that may be looking for space to occupy and over recent years, values of commercial property in Woking have remained steady when compared with other areas of the country.
Choosing a location when buying a commercial property is not a decision to be made without thorough research so always carry this out before committing.
If you would like to get advice about what commercial mortgages you may be eligible for to buy or refinance a commercial property in Woking, fill in the contact box and I NEED ADVICE will arrange for an experienced commercial mortgage broker to tell you your options.
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What is the housing market like in Woking?
The housing market in Woking has been very steady in recent years seeing a rise across houses at a rate close to 5% per annum varying over different times. Woking has remained in high demand due to it’s easy access to London Waterloo and the motorways surrounding it making it a great spot for investors.
The town has also seen a lot of investment with new bars and restaurants which has helped the demand for people wanting to live in Woking.
The market for flats has not been so consistent which has been seen across the south in general. The pandemic saw many people wanting to live in properties with green space creating a surge of interest in houses and less in flats. Woking has also seen a large increase in development of flats in the last few years meaning there have been more on the market.
I’m looking to buy a property in Woking. Does my mortgage broker need to be in Woking too?
No, your mortgage broker does not need to be close by. Given that many mortgage brokers work remotely, we would recommend choosing a broker based on their experience and skills rather than one that is nearest to you. Many give advice over the telephone, email and Zoom to accommodate borrowers that otherwise could not be free due to work commitments.
If you feel that a face to face appointment is needed to make sure you understand the process, then you should select a broker that is close by. If you do not feel you need this and want to speak with a professional mortgage broker, I NEED ADVICE can put you in touch with one. Please fill out the form if you require this.
What should I be looking at when choosing a mortgage broker in Woking?
Your mortgage is a very important transaction so selecting a broker should be done with care. We would encourage potential borrowers to look at the firms reviews and question the brokers relevant experience in line with the transaction that you are carry out to make sure they have experience in that area.
Woking is a popular place to live, it has good schools and great for commuters. The town is constantly being improved and has some nice surrounding villages. The housing market has been steady in the town over recent years so it can be a great place to buy a home.
If you know where you want to live and now want help in choosing the correct mortgage adviser to give you the professional advice that you need, I NEED ADVICE can arrange a qualified mortgage broker to contact you.