Could you afford Sherlock’s Baker Street flat or Dot Cotton’s house in EastEnders?

3 February 2017

Fancy living like a true EastEnder and taking up residence in Albert Square? Ever dreamt of solving crime from Sherlock Holmes’ iconic home on Baker Street? Think you could pay the mortgage on Mark’s flat in Peep Show? 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 the hoops you’d have to jump through to turn owning them into a reality.

David Blake, Principal Mortgage Adviser, Which? Mortgage Advisers said:

“Whether it’s Albert Square or Aberdeen, Downton Abbey or Dartmouth, there is huge variation in the affordability of properties across the UK. When looking for a mortgage, it is important to separate the fact from the fiction to ensure you know exactly what you can afford. Seeking independent advice from a reputable mortgage adviser can also help you to get the best possible mortgage deal.”

Five of the 10 are revealed here, to check out the full list, visit: http://mortgageadvisers.which.co.uk/UK-fictional-homes

1) Sherlock Holmes – 221B, Baker Street, London, UK – £1.7 million

A beautiful 2-bedroom Georgian flat in the centre of London with large, airy sitting room lit by broad windows. A sought-after property formerly the home of detective extraordinaire Sherlock Holmes. One wall partly indented with bullet holes.

REAL-LIFE SCENARIO: 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 likely required.

2) Peep Show – Flat 5, Apollo House, Croydon, London, UK – £220,000

Take a ‘peep’ at this ‘showy’ 2-bedroom flat with balcony in up-and-coming block Apollo House, just 5 minutes’ walk from Croydon railway station. Reluctant sale, would make an exciting buy-to-let opportunity. Bathroom door needs replacing.

REAL-LIFE SCENARIO: 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.

3) EastEnders – 25 Albert Square, Walford, London, E20 6PQ, UK – £875,000

Victorian terraced 3-bedroom house located in the up and coming London borough of Walford. Local daily market gives the area a real sense of community. Excellent transport connections just a short walk from Walford East underground station. May require some modernisation.

REAL-LIFE SCENARIO: 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.

4) Downton Abbey – Downton Estate, Yorkshire, England, UK – £72 million

Located in the stunning Yorkshire countryside just a few minutes’ walk from local village Downton, this grand and luxurious residential manor house offers 11 first-floor bedrooms and plenty of room for living and entertaining in style. The house, steeped in history, also offers extensive servant quarters.

REAL-LIFE SCENARIO: 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.

5) The Crown – Buckingham Palace, London, SW1A 1AA, UK – £2.2 billion

A grand and opulent 775-room palace in the City of Westminster. Inspired by French Neoclassic architecture, the property contains the largest private garden in London – the bustling capital of England and global hub. Extensive renovations required.

REAL-LIFE SCENARIO: A Grade I listed building of outstanding national, architectural and historical interest. Buying such a property would require private specialist financing.

Press Release: David Blake, Downton Abbey, Eastenders, Fictional Homes, Peep Show, Sherlock, Sherlock Holmes, The Crown, Which?, Which? Mortgage Advisers