Mortgage advice in Leicester

If you’re looking for mortgage advice, you can speak to a Rest Less Mortgages advisor and get high quality advice on residential, retirement interest-only, equity release and buy-to-let mortgages.

Buying a property in Leicester

The average overall price of a property in Leicester is £221,938 with house prices in the city up 9.7% year-on-year.

The average property prices for Leicester are £397,668 for a detached property, whilst semi-detached houses sold for an average of £254,125. Flats sold for an average of £146,724, with terraced properties fetching £198,625.

Source: HM Land Registry. Figures shown are the latest available (May 2022).

Average house price in Leicester:

£221,938

9.7% increase YoY

Cost comparison of houses and flats in Leicester

Cost comparison - Leicester - May 2022

Source: HM Land Registry. Figures shown are the latest available (May 2022).

Looking to buy property in Leicester? Speaking to an experienced mortgage advisor can help you to understand your options and get a great deal on your mortgage. Book a free, no-obligation call with an experienced mortgage advisor** at Rest Less Mortgages or call 020 7153 6011 now

Property sold in Leicester

There have been 10.7k property sales across all of the Leicester postcode area in the past year, with the number of sales decreasing by 23.7% (-4.1k transactions). Most properties were sold in the £200k-£250k price range with 2,664 (24.9%) properties sold, followed by 2,364 properties (22.1%) sold in the £150k-£200k price range.

Source: Plumplot.co.uk

About Leicester

Leicester is the biggest city in the East Midlands and is home to over 5.6k people.

As one of the oldest cities in England, Leicester is steeped in history. It is often hailed as the birthplace of the modern English language, as well as being the burial place of King Richard III. 

For those that aren’t history buffs, Leicester still has plenty to offer. As one of the most culturally diverse and progressive cities in the country, it is home to the biggest Diwali celebrations outside of India as well as the National Space Centre, numerous theatres, museums and art galleries. 

If you’re more interested in sports than the arts, Leicester is home to 2021 FA Cup winner Leicester City Football club as well as Leicester County Cricket Club, Leicester Tigers Rugby Union Club and the Leicester based basketball team, Leicester Riders.

Popular locations near to the city centre include Clarendon Park or Narborough Road, both of which benefit from independent shops, and beautiful properties which are good value for money with an average price of just over £227k.

If you’re after somewhere a little further from the centre, Aylestone and Oadby are both popular with families and have a more villagey feel. Oadby is the more expensive of the two, largely due to the number of good schools in the area, with properties selling for an average price of £354k, considerably more than the average for Leicester, while Aylestone properties go for an average of £218k.

If you’re planning to buy a property in Leicester, you can find out more about the mortgage options that might be available to you, and how they compare, in our articles Mortgages for over 50s: What you need to know and Mortgages for over 60s: what you need to know.

You can reach London by train from Leicester in just over an hour, but you can also access plenty of other destinations across the UK. More locally, the city has a large bus network which connects the suburbs to the city centre.

Investing in buy-to-let properties in Leicester

One of the top ten strongest economies in the UK, Leicester hosts some of the biggest employers in the UK helping boost employment figures in the city. 

Leicester is also a popular student city and is one of the most affordable student cities in the UK making it attractive to students. If you are looking to invest in buy-to-let student accommodation, areas such as Clarendon Park, Stoneygate, Evington and the West End are really popular.

Find out more about buying a property to let out in our guide Buy to let: A beginner’s guide.

Find out how much you could borrow

Get an idea of how much you can borrow, based on your monthly income and outgoings using our mortgage affordability calculator.

How much can I borrow?

Compare mortgage rates today

If you’d like to find out the kind of deals available on the market now, you can compare mortgage rates from the whole of market in minutes. Our comparison tool makes it easy to try out a few scenarios to see how that affects the mortgage rates available – simply adjust your options to see how that affects the results.

Want to speak to a mortgage advisor?

Speaking to an experienced mortgage advisor can help you to understand your options and get a great deal on your mortgage. If you’re looking for somewhere to start, you can speak to a Rest Less Mortgages advisor and get high quality advice on residential, retirement interest-only, equity release and buy-to-let mortgages.

Other areas you'd like to explore

If you are in the early phases of buying a property and haven’t settled on a location for your future home yet, check out mortgage information and house prices in these areas.

Read our mortgages guides

Whether you’re looking to understand how mortgages work, want to refresh your mortgage knowledge or you’re looking for the latest news in the world of mortgages – our guides are here to help.

Get expert mortgage advice**

If you’d like to talk to someone about your mortgage, you can get high quality advice on residential, retirement interest-only and buy-to-let mortgages from a Rest Less Mortgages advisor.

Get expert mortgage advice**

Source acknowledgement: House price data produced by Land Registry.

This material was last updated on 10 May 2022. It covers the period from 1 May 2021 to 1 May 2022 and contains property transactions which have been registered during that period.

Contains HM Land Registry data © Crown copyright and database right 2022. This data is licensed under the Open Government Licence v3.0.

If you have found an error with the data please contact Her Majesty’s Land Registry (HMLR).

Please note that we charge a fee of £495 for residential, buy-to-let and retirement interest-only mortgages, and £995 for equity release. This only be chargeable upon mortgage completion.

Rest Less Mortgages Ltd is an appointed representative of Julian Harris Mortgages Ltd, Julian Harris House, Musgrove, Ashford. TN23 7UN which is authorised and regulated by the Financial Conduct Authority. Julian Harris Mortgages Ltd FCA Register number is 304155, Co No. 3927189. The Rest Less Mortgages Ltd registered office is: 47 Butt Road, Colchester, England, CO3 3BZ. Registered in England No. 13538805. Please note that some mortgages such as commercial BTLs are not regulated by the FCA. Please see our Privacy Policy.

Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details of the FOS can be found on its website at www.financial-ombudsman.org.uk.