Can i get a mortgage as Full time Student? (UK)?

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HI there. I am a fulltime student, 3rd year. Will be working over summer for a company with appx earning of £3000. I got £4000 savings. My parents are unemployed. I could borrow money from my older brother…probably around £10000. I dont have any students loans, or other debts.

I was thinking to buy a property and let it. Preferably in London area since there supposed to be high rents. What you think is it possible for me to get a mortgage?

  1. Reply
    Marcos P
    February 20, 2011 at 11:36 pm

    As you don’t have a fixed monthly income, it will be very hard to get a mortgage, once they limit their maximum lending on 2 X the anual income or if, a couple or the combine amount of the borrower and the partner, whichever is greater.

    You could try however, ask a Mortgage Advisor who could also give you some hints.

    On the other hand, once you want to use a buy to let basis, you could also let a house and “sub-let” the rooms, which could also be very profitable, if well managed.

  2. Reply
    anitha b
    February 21, 2011 at 12:11 am

    It is tough as you have low monthly income

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