Student mortgage launched
03-Mar-2008
Students interested in getting into the market by securing a
first property may welcome the news that a new student mortgage has been launched.
Independent mortgage advice firm Capital fortune has introduced a new buy-for-rent scheme which allows customers to buy a property which they can share with other students.
The
mortgage will then be supported by the rent which the additional occupants pay the student who purchased the property.
Capital Fortune is promoting the schemes as a way for
first-time buyers with a low-income to get into the property market.
Rob Killeen, managing director of Capital Fortune, said: "Students are facing ever-increasing difficulty in securing affordable, good quality housing and rental costs in student towns are spiralling."
The former NUS president at Lancaster University added that they are "proud" to be supporting the scheme, noting that the products will "allow students to purchase their own property and provide appropriate and comfortable accommodation to their fellow house sharers".
95% mortgage deals 'still available' Market 'has opportunities for first-time buyers'
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