Q:Can students buy houses?
I am 23 and considering going back into full time education in September so would only be working part time.
My OH works full time so we would have 1 full salary coming in plus my part time salary but i don't want to keep renting for the next 5 years if we can avoid it.
It wouldn't be straight away anyway as would have to save deposit etc but just wondered if anyone has been able to buy a house whilst studying with support?
Time Management Mastery For Busy PeopleA:Can you name such a place?Stoke or Hull?
Best of Time ManagementA:Can you name such a place?
London, without a doubt. I live in a much better area than most of my course mates and for less money!
Realms Of Joy – Time Of Light.A:Who was it who said that there wasn't a sub-prime problem in the UK?
I'm not with a sub-prime, ta very much!
The Time Commandments.A:When we bought our first house (2003) I had graduated and OH was still a student. He has always been on the mortgage but they wouldn't take any of his earnings, bursaries or student income into account as they said his earnings were too irregular. (I assume if he'd had a regular part time job instead of ad-hoc hours they might have looked at it)
We took out a mortgage in joint names based on my income only but at the time it was ￡100 a month less than the house we were renting so it was a no-brainer really.
I also had friends who bought houses as students based on rental income of other rooms which could be an option if you are prepared to take in a lodger.
HTH
MMC
Effective Time ManagementA:In many places the mortgage will still be cheaper than renting
Can you name such a place?
Time Sharing RevealedA:Who was it who said that there wasn't a sub-prime problem in the UK?
Some students have income higher than those in employment. I was a student when I took out my first mortgage, and it was not with a sub prime lender.
The New Rules Of Time ManagementA:Of course students can buy houses! Many do… My share of our mortgage is considerably less than rentals areound here!
Who was it who said that there wasn't a sub-prime problem in the UK?
Project Time ManagementA:Yes of course, I bought two (not at the same time!) as a student based on the income from my phd grant. In many places the mortgage will still be cheaper than renting – which was certainly why I did it.
HTH
G
Out Of Time: The 911 ProphecyA:So long as you can get a suitable mortgage on the one salary, then why not!? (although lenders now only offer around 3x salary, and it's advisable to have at least a 10% deposit too…)
Do your maths and check you can SENSIBLY afford it.
14 Days to Total Time ControlA:Of course students can buy houses! Many do… My share of our mortgage is considerably less than rentals areound here!
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