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Student Mortgages??
thewookie
Posts: 33 Forumite
Hi there, looking for a bit of advice/info from you guys.
I bought my house in June 2007 with a standard mortgage from the A&L house valued at £105000 at the time paid 10% deposit and have been paying ever since
Since then I have quit my job and start university this September, me and my partner both have part-time jobs and can still afford the mortgage and our bills. When my fixed rate ends we will go onto the SVR which will mean a slight reduction in our monthly payment. My query is, will I/we be able to remortgage onto a new fixed deal when our rate ends next june. Can I get a student mortgage? Our earnings multiples are vastly reduced now ( I was previously on £40k p/a) will we have to stay on our current deal??
Any info advice etc etc will be greatly appreciated.
Will pop back in tomorrow to read the responses and if you need any further info will try to provide it.
cheers for reading
I bought my house in June 2007 with a standard mortgage from the A&L house valued at £105000 at the time paid 10% deposit and have been paying ever since
Since then I have quit my job and start university this September, me and my partner both have part-time jobs and can still afford the mortgage and our bills. When my fixed rate ends we will go onto the SVR which will mean a slight reduction in our monthly payment. My query is, will I/we be able to remortgage onto a new fixed deal when our rate ends next june. Can I get a student mortgage? Our earnings multiples are vastly reduced now ( I was previously on £40k p/a) will we have to stay on our current deal??
Any info advice etc etc will be greatly appreciated.
Will pop back in tomorrow to read the responses and if you need any further info will try to provide it.
cheers for reading
0
Comments
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if you don't meet their criteria you will have to stay on the SVR. Sorry. There's no such thing as a student mortgage. Lenders only care what provable incomes you have.Kavanne
Nuns! Nuns! Reverse!
'I do my job, do you do yours?'0 -
Do check your offer letter carefully , a lot of A&L deals around that time had a default follow on tracker rate, rather than SVR.Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.0
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Thanks for the info. 0
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