Have you ever wondered how much it would cost to live like a true EastEnder and take up residence in Albert Square? Or how much you would need to shell out to solve solving crime from Sherlock Holmes’ iconic Baker Street home? Find out if you could afford them with new research from Which? Mortgage Advisers.
Which? Mortgage Advisers has calculated the cost of 10 of the most famous fictional homes in the UK, and shown hoops you’d have to jump through to turn owning them into a reality.
Click through our gallery below, and find out how much money you’d need to find in order to buy one of the UK’s finest properties of screens small and large.
- For personal advice on getting a mortgage from an impartial expert, call Which? Mortgage Advisers on 0808 252 7987.
How could you jump on the fictional property ladder?
David Blake, Which? Mortgage Advisers principal mortgage adviser, has reviewed the hoops you’d need to jump through to get onto the fictional property ladder.
He said: ‘Whether it’s Albert Square or Aberdeen, Downton Abbey or Dartmouth, there is huge variation in the affordability of properties across the UK.’
Here’s what you need to know.
Sherlock Holmes – 221B, Baker Street, London, UK – £1.7 million
David says: ‘Properties next to or above commercial businesses are more difficult to secure mortgages on. Smells could drift into the property and it may be deemed at an increased risk of fire. Up to £425,000 (25%) deposit is likely required.’
Peep Show – Flat 5, Apollo House, Croydon, London, UK – £220,000
David says: ‘Properties close to railway stations could cause issues when you want to borrow, depending on noise levels and demand. Multi-story flats are normally leasehold, with a lender typically requiring a minimum of 50 to 60 years remaining on the lease.’
EastEnders – 25 Albert Square, Walford, London, E20 6PQ, UK – £875,000
David says: ‘Buying this property as a landlord would typically require a larger deposit of £218,750 (25%). The buyer wouldn’t be able to live in the property without the lender’s consent. A higher-rate stamp duty tax could potentially apply.’
Downton Abbey – Downton Estate, Yorkshire, England, UK – £72 million
David says: ‘Grade I or II listed buildings of this nature often require specialist finance. Those with service quarters and guest rooms can be classified as semi-commercial, requiring bespoke, large-loan advice.’
The Crown – Buckingham Palace, London, SW1A 1AA, UK – £2.2 billion
David says: ‘A Grade I listed building of outstanding national, architectural and historical interest. Buying such a property would require private specialist financing.’
Only Fools and Horses – Flat 127, Mandela House, Peckham, London, SE15, UK – £330,000
David says: ‘Getting a mortgage on high-rise properties can prove difficult due to maintenance, service costs and the lender’s concern for their demand. Banks would typically prefer to only lend on local authority properties when at least 50% of the block is privately owned.’
Coronation Street – 9 Coronation Street, Weatherfield, Salford, UK – £100,000
David says: ‘A perfect first-time-buyer purchase. Low deposit requirement of £5,000. Save up using a Help-to-Buy Isa and the government will boost your savings by 25%. The maximum bonus you can receive is £3,000. Terms and conditions apply.’
Notting Hill – 280 Westbourne Park Road, Notting Hill, London, UK – £4.9 million
David says: ‘For larger loans, a 15% deposit is typically required (£735,000 in this case). Those who have access to savings and are higher-rate tax payers could benefit from taking out an offset mortgage.’
Gavin & Stacey – 47 Trinity Street, Barry, Vale of Glamorgan, Wales, UK – £130,000
David says: ‘A great first-time buyer property requiring a small 5% deposit of just £6,500. Likely to be eligible for competitive mortgage rates starting at around 3%.’
The Only Way Is Essex – Chigwell, Essex, UK – £1.6 million
David says: ‘The majority of lenders require a 15% deposit to lend £500,000 or more to buy a home like this. Depending on your personal income, a property of this value could potentially be remortgaged up to 85%.’
- We explain all you need to know about buy-to-let mortgages
- See our guide on buying your first home
- Get clued up on how to get a mortgage
Your home may be repossessed if you do not keep up repayments on your mortgage.
Which? Limited is an Introducer Appointed Representative of Which? Financial Services Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 527029). Which? Mortgage Advisers and Which? Money Compare are trading names of Which? Financial Services Limited.