10 London commuter towns that make sense

Hi there,

This is Chubby Wallet. The newsletter that teaches you how to profit from property trends before they go mainstream..

Here's what’s in store..

• General market update

• Top 10 affordable commuter towns near London

• Borrowing limits get relaxed

• The ex lorry driver that became a FTSE 100 land baron

Picture this: you're at a car boot sale where there are more sellers than ever, yet prices aren't crashing..

Welcome to the UK property market in July 2025..

According to Chris Watkin, the UK property market now has 756,675 homes for sale—the most we’ve seen in years.

That’s about 15.9% more than the nine-year average, and even Chris’s usual “10% more stock than normal” rule of thumb is being put to the test.

Interestingly one in seven properties is seeing a price reduction every month—over 100,000 price drops. But the market isn’t falling apart.

So, what’s keeping things steady?

Sales picture

Sales are holding up well—28,300 homes have gone under offer, up 8.2% compared to this time last year.

It means, buyers are still active, but they’re being more selective about what they choose.

Meanwhile, the price per square foot remains steady at £346.25, barely changing since last November.

The market isn’t rising or falling—it’s simply holding firm.

The game changer

Here's where things get interesting.

While everyone's been watching interest rates like hawks, something bigger has been happening behind the scenes.

Borrowing power has increased by roughly £25,000 per buyer.

How?

Lenders have quietly adjusted their stress testing.

Santander, Nationwide, and the HBOS group (including Lloyds) have all loosened their lending criteria.

Nationwide now lets some borrowers access 6x income mortgages.

The threshold for higher income multiples has jumped from £100m to £150m industry-wide.

London may be primed for a comeback

Why?

Because 30% of high loan-to-income mortgages happen in London.

With easier lending, the South East - which has lagged behind the North since the pandemic - might finally catch up.

Savills predicts deposit requirements could fall by 10-22% in these areas.

That's the difference between needing £80,000 and £62,000 for a deposit.

The forward view

• The optimistic case: Savills forecasts 14-24% more first-time buyer transactions over five years, potentially adding 5-7.5% to price growth. That's an extra 1% annually on top of normal growth.

• The reality check: We're heading into "summer proper" with the highest stock levels in years. Adam Lawrence (propenomix) expects the market to feel "flat" - not crashing, but not exciting either.

• Interest rates? The market's betting on three more cuts in the next 12 months. The 5-year swap rate sits at 3.615%, suggesting mortgage rates might edge toward 5.6% - better than today, but no return to 2%

The bottom line

For buyers: More negotiating power and better borrowing terms, but no rush - stock levels suggest choice will remain.

For sellers: Price realistically or join the 100,000 monthly price reduction club. The market's not going to bail you out of optimistic pricing.

For investors: The fundamentals remain solid. Population growth continues, supply constraints persist long-term, and lending is loosening not tightening.

The UK property market in 2025: not dramatic, but definitely interesting.

With London property prices still out of reach for many, more people are seeking affordable alternatives that maintain convenient access...

According to Humble Penny, there are 10 areas (highlighted below) that balance affordability, strong transport links, and local amenities, helping you escape London’s high prices without sacrificing convenience.

1. Northfleet, Kent

   Pros: Cheap, near Ebbsfleet (19 mins to London), multicultural. Cons: Some neglected areas.

   🏡 Avg. Price: £336K | 🚆 Season Ticket: £4,118

2. Luton, Bedfordshire

   Pros: Super-fast trains (28 mins), very diverse, airport jobs. Cons: Higher crime in parts.

   🏡 Avg. Price: £315K | 🚆 Season Ticket: £5,480

3. Slough, Berkshire

   Pros: Crossrail (15-20 mins to London), top schools, jobs hub. Cons: Industrial feel in places.

   🏡 Avg. Price: £414K | 🚆 Season Ticket: £3,448

4. Northampton

   Pros: Super affordable, good schools. Cons: Longer commute (~1hr).

   🏡 Avg. Price: £282K | 🚆 Season Ticket: £7,352

5. Milton Keynes

   Pros: Green spaces, booming economy. Cons: Car-dependent.

   🏡 Avg. Price: £356K | 🚆 Season Ticket: £6,836

6. Ashford, Kent

   Pros: High-speed trains (38 mins), Eurostar links. Cons: Expensive rail tickets.

   🏡 Avg. Price: £328K | 🚆 Season Ticket: £8,468

7. Wellingborough, Northants

   Pros: Cheapest on list (£257K avg.!). Cons: Limited rental market.

   🏡 Avg. Price: £257K | 🚆 Season Ticket: £8,264

8. Canterbury, Kent

   Pros: UNESCO city, great schools, safe. Cons: Slow trains (~1hr 45mins). 🏡 Avg. Price: £365K | 🚆 Season Ticket: £8,520

9. Banbury, Oxfordshire

   Pros: Good value for Oxfordshire. Cons: Few local jobs.

   🏡 Avg. Price: £300K | 🚆 Season Ticket: £7,572

10. St Albans, Hertfordshire

    Pros: Elite schools, 25 mins to London, safe. Cons: Very expensive (£652K avg.!).

    🏡 Avg. Price: £652K | 🚆 Season Ticket: £4,588

Key takeaways best for budget buyers

• Wellingborough (£257K), Northampton (£282K).

• Fastest commutes: Slough (15 mins), St Albans (25 mins), Luton (28 mins).

• Best schools: St Albans, Canterbury, Slough (grammar schools).

• Most diverse: Luton (55% non-white), Slough (66% non-white).

For years, borrowing has been a complex and often restrictive process.

Now, in response to the government’s clear mandate to regulators to drive economic growth, the mortgage lending sector is experiencing its most significant transformation in recent times.

High earner borrowing limits gets relaxed

The Bank of England recently raised the cap on high-multiple loans from £100 million to £150 million a year, so more buyers can now get mortgages at 5x or 6x their income without lenders raising red flags.

The final rules are due later this year.

Lenders have also relaxed their stress tests. After the FCA told banks to be more realistic about future rates, big names like Santander, Nationwide, and Lloyds all lowered their “what if rates rise?” assumptions.

That means buyers can now borrow £10k–£35k more than before—sometimes even up to £25k extra.

Bottom line: it’s now easier to borrow more, which could make a big difference if you’re looking to buy.

No-advice mortgages make a comeback

For simple cases, lenders can now offer mortgages without all the usual financial advice and paperwork—basically a fast track for straightforward remortgages.

But if you’re consolidating debts or looking at equity release, full advice is still required.

No shortcuts there, just common sense.

Switching mortgages got easier

Borrowers can also now reduce their mortgage length or switch lenders without jumping through the full "can you afford this?" process again, provided their monthly payments don't go up.

The consultation closed in early June, with policy statements expected by Q3 2025. Implementation could start before year-end—no lengthy transition periods planned.

What this means for the market

With borrowers able to access roughly £25k more in lending capacity, we're looking at approximately 10%-11% increased affordability across the board.

Savills predicts:

London captured 30% of high loan-to-income mortgages, with heavy concentration in the South East.

This regulatory loosening could be the tonic needed to revitalize sluggish southern markets. Deposit requirements could fall 10%-22% in these areas, according to Savills analysis.

Timeline for compliance

• Q3 2025: FCA policy decisions on simplified mortgage rules

• Late 2025: New high-multiple lending limits take effect

• End 2025: Potential rollout of no-advice mortgage options

• 2026-2028: Full market impact expected to hit

The bottom line

These aren't just regulatory tweaks—they're designed to accelerate the market.

With 1% additional annual growth predicted by Savills on top of baseline projections, we're looking at a fundamentally altered lending landscape.

The government's calculus is crystal clear - housing market health equals electoral success.

As one Labour insider confirmed:

If you're a landlord

• Consider refinancing options under new simplified rules

• Monitor regional variations, particularly in supply-constrained southern markets

• Prepare for increased competition from 'gingered up' first-time buyers

The regulatory wind is finally at our backs, and savvy investors recognize when the environment shifts in their favour, and move quickly to seize the opportunities presented.

Tony Pidgley’s story reads like a Hollywood script.

Born in 1947 and adopted from Barnardo’s, he spent his early years working with his adoptive parents cutting logs.

Leaving school at 15, he started a haulage and plant hire business, growing it to 40 lorries by 19 before selling to Crest Homes—shifting from diesel to development.

Those early years laid the groundwork for reshaping UK property.

The big break

Founding Berkeley after a boardroom fallout at Crest, Pidgley co-founded the group in 1976 with just four homes.

His vision was simple but bold: make homebuying joyful through obsessive attention to detail.

Scaling up

With the instincts of a street trader, Pidgley anticipated market cycles and embraced risk.

In the 1990s, he pioneered brownfield regeneration, turning wastelands like Gunwharf Quays into vibrant communities.

Through savvy joint ventures and sharp negotiations, he kept Berkeley ahead of rivals and councils alike.

Pressure

Pidgley thrived under self-imposed deadlines and high stakes, pushing Berkeley to innovate and improve continuously.

Known for his toughness and loyalty, he demanded excellence at every level.

Lessons from Pidgley’s playbook

• Start anywhere, but start. No head start? No problem—just drive.

• See risk as opportunity. Brownfields were liabilities until he saw gold.

• Obsess over details. Taps or billion-pound deals—little things win.

• Embrace pressure. Deadlines aren’t obstacles; they’re fuel.

• Stay restless. Never settle—there’s always “so much to build.”

Pidgley proved barriers are breakable. Awarded a CBE for services to housing, he left a legacy of vision and grit. As he said: “There’s still so much to do”

That's it for this week folks. Each week we'll cover strategies, updates and insights to help you succeed in real estate. We love this stuff!

If you Have questions or just want to chat, We want to hear it.

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