Buy for Uni / student mortgages

Students can enjoy the security of owning their own home and rent rooms to contribute to the mortgage while they study. When assessing an application, we use the expected rental income as well as the parental income, which means we can lend more than with a typical mortgage. The mortgage itself will be on a Joint Borrower Sole Proprietor basis, which allows the student to add a parent to the application without including them on the property deeds. See below for the product range.

Variable mortgages

The mortgages listed below move on to our Standard Variable Rate, currently 4.9% (variable), after the initial rate period. There may be a limit on how low your interest rate can fall. This is called an ‘interest rate floor’. The interest rate floor applicable to your loan will be specified in your loan documentation.

Product name	Initial rate i	Discount from SVR i	Overall cost for comparison i	Max % LTV i	Product fee i	Mortgage repayment
100% Buy For University variable for 5 years See example	4.20%	0.70%	4.80% APRC	100%	0.4% (£599 min)	£XXX.xx per month See details
Representative example: A mortgage of £283,000 taken out for a period of 15 years on an interest only basis. Monthly instalments: £990.50 per month for 47 months, followed by £1,160.22 per month for 120 months. Total amount payable: £482,437.90 Total amount of credit: £283,000 The total amount payable includes administration fee £125, valuation fee £340, product fee £1,132, completion fee £75 and closing fee £100. The overall cost for comparison is 4.8% representative APRC. This example is based on a typical mortgage and assumes that fees are not added to the mortgage. Please ask for a personalised illustration for your own particular requirements.
100% Buy For University variable for 4 years See example	4.20%	0.70%	4.90% APRC	100%	0.4% (£599 min)	£XXX.xx per month See details
Representative example: A mortgage of £283,000 taken out for a period of 15 years on an interest only basis. Monthly instalments: £990.50 per month for 47 months, followed by £1,160.12 per month for 132 months. Total amount payable: £484,461.34 Total amount of credit: £283,000 The total amount payable includes administration fee £125, valuation fee £340, product fee £1,132, completion fee £75 and closing fee £100. The overall cost for comparison is 4.8% representative APRC. This example is based on a typical mortgage and assumes that fees are not added to the mortgage. Please ask for a personalised illustration for your own particular requirements.
100% Buy For University variable for 3 years See example	4.20%	0.70%	4.90% APRC	100%	0.4% (£599 min)	£XXX.xx per month See details
Representative example: A mortgage of £160,000 taken out for a period of 10 years on an interest only basis. Monthly instalments: £560.00 per month for 35 months, followed by £654.67 per month for 84 months. Total amount payable: £235,787.28 Total amount of credit: £160,000 The total amount payable includes administration fee £125, valuation fee £255, product fee £640, completion fee £75 and closing fee £100. The overall cost for comparison is 4.9% representative APRC. This example is based on a typical mortgage and assumes that fees are not added to the mortgage. Please ask for a personalised illustration for your own particular requirements.
100% Buy For University variable for 2 years See example	4.20%	0.70%	5.0% APRC	100%	0.4% (£599 min)	£XXX.xx per month See details
Representative example: A mortgage of £152,000 taken out for a period of 14 years on an interest only basis. Monthly instalments: £532.00 per month for 23 months, followed by £622.93 per month for 144 months. Total amount payable: £255,100.92 Total amount of credit: £152,000 The total amount payable includes administration fee £125, valuation fee £255, product fee £608, completion fee £75 and closing fee £100. The overall cost for comparison is 5.0% representative APRC. This example is based on a typical mortgage and assumes that fees are not added to the mortgage. Please ask for a personalised illustration for your own particular requirements.
80% Buy For University variable for 5 years See example	3.95%	0.95%	4.5% APRC	80%	0.4% (£599 min)	£XXX.xx per month See details
Representative example: A mortgage of £168,000 taken out for a period of 9 years on an interest only basis. Monthly instalments: £553.00 per month for 59 months, followed by £688.57 per month for 48 months. Total amount payable: £234,935.36 Total amount of credit: £168,000 The total amount payable includes administration fee £125, valuation fee £285, product fee £672, completion fee £75 and closing fee £100. The overall cost for comparison is 4.5% representative APRC. This example is based on a typical mortgage and assumes that fees are not added to the mortgage. Please ask for a personalised illustration for your own particular requirements.
80% Buy For University variable for 4 years See example	3.95%	0.95%	4.8% APRC	80%	0.4% (£599 min)	£XXX.xx per month See details
Representative example: A mortgage of £205,000 taken out for a period of 19 years on an interest only basis. Monthly instalments: £674.79 per month for 47 months, followed by £840.16 per month for 180 months. Total amount payable: £389,403.93 Total amount of credit: £205,000 The total amount payable includes administration fee £125, valuation fee £340, product fee £820, completion fee £75 and closing fee £100. The overall cost for comparison is 4.8% representative APRC. This example is based on a typical mortgage and assumes that fees are not added to the mortgage. Please ask for a personalised illustration for your own particular requirements.
80% Buy For University variable for 3 years See example	3.95%	0.95%	4.8% APRC	80%	0.4% (£599 min)	£XXX.xx per month See details
Representative example: A mortgage of £175,000 taken out for a period of 11 years on an interest only basis. Monthly instalments: £576.04 per month for 35 months, followed by £717.08 per month for 96 months. Total amount payable: £265,286.08 Total amount of credit: £175,000 The total amount payable includes administration fee £125, valuation fee £285, product fee £700, completion fee £75 and closing fee £100. The overall cost for comparison is 4.8% representative APRC. This example is based on a typical mortgage and assumes that fees are not added to the mortgage. Please ask for a personalised illustration for your own particular requirements.
80% Buy For University variable for 2 years See example	3.95%	0.95%	4.9% APRC	80%	0.4% (£599 min)	£XXX.xx per month See details
Representative example: A mortgage of £113,000 taken out for a period of 13 years on an interest only basis. Monthly instalments: £371.96 per month for 23 months, followed by £462.99 per month for 132 months. Total amount payable: £183,798.76 Total amount of credit: £113,000 The total amount payable includes administration fee £125, valuation fee £230, product fee £599, completion fee £75 and closing fee £100. The overall cost for comparison is 4.9% representative APRC. This example is based on a typical mortgage and assumes that fees are not added to the mortgage. Please ask for a personalised illustration for your own particular requirements.

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