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Buy for Uni / student mortgages

Students can enjoy the security of owning their own home and rent out rooms to contribute to their mortgage payments 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.

Affordability calculator

Find out how much you can borrow with our affordability calculators.

Monthly payments calculator

Use the calculator to find out what your monthly payments might be based on the mortgage product and the type and term of your borrowing.

Mortgage details

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Please scroll down for monthly payments by product.

This is the maximum amount based on the information you provided. Your mortgage adviser will take you through the application process and will calculate the amount you can afford to borrow based on your income after the deduction of those expenses and commitments. Further restrictions may apply for specialist products.

Variable mortgages

The mortgages listed below move on to our Standard Variable Rate (SVR), 5.75% (variable), after the initial rate period. The SVR is increasing to 5.99% (variable) from 1st September 2022.

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 See example4.65%1.10%5.4% APRC100%£699
£XXX.xx per month
See details

Representative example: A mortgage of £180,000.00 taken out for a period of 11 years on an interest only basis.
Monthly instalments: £697.50 per month for 59 months, followed by £866.82 per month for 72 months.
Total amount payable: £284,617.54
Total amount of credit: £180,000.00.
The total amount payable includes valuation fee £255, product fee £699 and closing fee £100.
The overall cost for comparison is 5.4% representative APRC.
This example is based on our 100% Buy For University product.  It is based on our current Standard Variable Rate of 5.75%, with fees not added to the mortgage.

Please ask for a personalised illustration for your own particular requirements.

 

The SVR is increasing to 5.99% (variable) from 1st September 2022.

80% Buy For University variable See example4.45%1.30%5.4% APRC80%£699
£XXX.xx per month
See details

Representative example: A mortgage of £195,000.00 taken out for a period of 17 years on an interest only basis.
Monthly instalments: £723.13 per month for 59 months, followed by £938.81 per month for 144 months.
Total amount payable: £373,937.31.
Total amount of credit: £195,000.00.
The total amount payable includes valuation fee £285, product fee £699 and closing fee £100.
The overall cost for comparison is 5.4% representative APRC. This example is based on our 80% Buy For University product.  It is based on our current Standard Variable Rate of 5.75%, with fees not added to the mortgage.

Please ask for a personalised illustration for your own particular requirements.

The SVR is increasing to 5.99% (variable) from 1st September 2022.

Useful stuff

Mortgage Conditions

Tariff of Mortgage Fees

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