We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
does having a student loan affect mortgage application?
verytricky69
Posts: 78 Forumite
My husband and I are applying for a mortgage we have a mortgage in principal. It has only just occurred to me to mention my student loan. Tbh I completely forgot about it as I only work part time so haven't been paying it off for the past 2 years. Its approx 5k.
Are student loans considered in mortgage applications? Could this go against us? I have just emailed our financial adviser who is sorting the Mortgage out for us.
Are student loans considered in mortgage applications? Could this go against us? I have just emailed our financial adviser who is sorting the Mortgage out for us.
please excuse my username- my husband set it to the email account when he was young free and stooooopid
0
Comments
-
No, student loans don't count. They don't even appear on your credit report. Unless it was a private loan of course, such as a Barclays Career Development Loan.0
-
thats a relief! (its a standard student loan company one)please excuse my username- my husband set it to the email account when he was young free and stooooopid0
-
I recently applied for a mortgage with my partner and did have to provide details of my student loan and monthly repayments (which was okay as they are in all my payslips).
I don't know whether this had any impact on the amount we were allowed to borrow in the end but we were given an AIP of about 4.5 x joint salary (which was much higher than we were looking for) and had no problems with our subsequent application and offer.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 349.8K Banking & Borrowing
- 252.6K Reduce Debt & Boost Income
- 453K Spending & Discounts
- 242.8K Work, Benefits & Business
- 619.5K Mortgages, Homes & Bills
- 176.4K Life & Family
- 255.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards