First Time Buyers Mortgages
Mortgages at University
How do Mortgages at University work?
This
type of mortgage allows a student to buy when still at university. Affordability is
calculated on rental income which must be at least 7% of the loan and traditionally generated
from no more than four rooms in the house.
Mortgages at University – Advantages
The
mortgage is available up to 100%
LTV
. The mortgage allows you to start gaining from equity rises before you
have even started working.
You will
not waste any most in rent at university.
Mortgages at University -
Disadvantages
Both
parents must act as guarantors for the entire loan. They may also have to
secure the loan on a proportion of their own home (if you take more than 75%
LTV
).
You will
have the additional stress of finding tenants and living in the house as
landlord.
Lenders specialising in Mortgages at
University
Bath
Building Society, but many operate in this field now - best to seek mortgage advice.
Mortgages at University Advice
You will
need to find out which first time buyer mortgage is right for you, so seek
specialist mortgage advice.
Features, advantages and disavantages of specific first time buyer mortgages:
100% Mortgages l Cashback Mortgages l High LTV Mortgages l Graduate Mortgages l Professional Mortgages l Mortgages with Parents l Guarantor Mortgages l Mortgages with Friends or Family l Mortgages at University l Rent a Room Mortgages l Affordable Mortgages l Interest only Mortgages l Part Repayment Part Interest Mortgages l Interest-free Start Mortgages l Shared Ownership Mortgages l Poor, Adverse or Poor Credit Mortgages l Key Worker Mortgages l Shared Equity Mortgages l 30, 35, 40 Year Term Mortgages