Postgrad student mortgages

hostie

Hello,
I have just been awarded funding for a PhD which I didn't expect at all. Prior to receiving the award letter I had started a mortgage application (I have a fairly hefty deposit and work part-time and earning about 10k). I can just about buy a wee flat on a mortgage based on my part time work and my deposit. Then this week when I received my award letter I wondered if it might be possible to get this added to my part time salary to make me eligible for a bigger mortgage. What do people think?

I was planning on doing my part time job until the end of the year anyway as well as doing my research just to keep some extra money in the pot. I am an arts student and my part time job is not very time consuming so I think this would be possible.

If I tell my mortgage provider about my award will they assume that I am going to leave my job and deny me a mortgage? Thought other people might have experience of using awards to get mortgages. If so, would the bank need to see it coming into my account for a few months?

Thanks

pboae

We had a mortgage based on two PhD studentships, but we had to get a guarantor as well because they were classed as short-term contracts.

hostie

Thanks, that is useful information. It sounds like I should just stick with my part time earnings and not include the studentship.