Can my girlfriend and I get a mortgage with mostly student finance income? (18k Min)

ORStoner

My girlfriend and I are in our first year of study at university. We live together in a university studio flat and currently pay about £8000 per year. We both get £7500 each from student finance and another £3000 combined in scholarships, which makes £18000 combined. I also work for the university earning above minimum wage but with no guaranteed hours.

In the first half of the year, because we don't go out and cook all meals from scratch, we have managed to save just over £3500 (after spending £1200 on computers and bikes), and will probably have saved up a minimum of £8000 by the end of the year. My girlfriend also has £4000 in savings making £12000 in total.

My question is, do you think that any lender would lend us around £40000 with a £10000-15000 deposit so we could get a shared ownership flat?

A guarantor isn't really an option as my girlfriend's parents don't earn enough and my Dad would never agree to it.

Thank you for reading

ethank

No.

Student Loan is not an income.

chanz4

its a loan, not grant and has to be paid back

anselld

You know you are paying 5.5% interest on your Student Finance Loan, right? If you don't need the whole loan you would be better to take a smaller one and not "save".