Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

    • luvlyloz
    • By luvlyloz 17th Jul 17, 11:43 AM
    • 1Posts
    • 0Thanks
    Mortgages for students on stipends
    • #1
    • 17th Jul 17, 11:43 AM
    Mortgages for students on stipends 17th Jul 17 at 11:43 AM
    I'm a mature postgraduate student on a studentship and receiving a monthly stipend to support myself whilst studying. I currently rent a property but have enough money in savings to cover a 10-12% deposit if I were to consider buying the property, or one similar. As I'm single, I would be the sole person applying for a mortgage which makes things tricky as many banks and building societies did not consider the monthly stipend (which is guaranteed for a specific period of time, like a fixed-term work contract) as an income/earnings. When I was living with a partner and looking into mortgages, they categorised my stipend as extra or additional income. I'm interested if anyone in a similar position receiving a study stipend has managed to find a bank or building society willing to provide a mortgage. Can anyone recommend any which may be more lenient in terms which how they view the stipend (hopefully as income/earnings rather than additional income)? Thanks.
Page 1
    • Lilla D
    • By Lilla D 17th Jul 17, 1:52 PM
    • 316 Posts
    • 160 Thanks
    Lilla D
    • #2
    • 17th Jul 17, 1:52 PM
    • #2
    • 17th Jul 17, 1:52 PM
    Be careful with people throwing lender names into the hat here, because criteria is a moving target and whether you'll be accepted or not depends on other details of your situation as well.
    Just speak to a broker, who will go through the details with you and find the best lender solution. There are lenders out there accepting stipend as an income, but it's all subject to T&Cs.
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,788Posts Today

6,696Users online

Martin's Twitter
  • RT @LordsEconCom: On Tuesday Martin Lewis, Hannah Morrish & Shakira Martin gave evidence to the Cttee. Read the full transcript here: https?

  • Ta ta for now. Half term's starting, so I'm exchanging my MoneySavingExpert hat for one that says Daddy in big letters. See you in a week.

  • RT @thismorning: Can @MartinSLewis' deals save YOU cash? ????

  • Follow Martin