Can we get a mortgage while I'm a student?

EleriRhiannon

My boyfriend and I have decided to buy a house together. I have inheritance money for a good deposit and we know we can afford the monthly costs. We've been to various banks, building societies etc but they've all said the same thing: do our online affordability calculators! We have, we just want to know if my income is included or not. No one can seem to answer our questions and just keep telling us to come back when we have a specific house in mind but how can we search with no idea of our budget?
I started working part time in September because I became a full time student. I'm not 21 until January so I'm not a mature student yet. I get student loan every semester too, which I also have no idea whether to factor in or not. If my income isn't included then we can't afford much at all on my boyfriend's income alone and so won't be able to become homeowners yet.
Help?

ACG

Some lenders require a minimum period of working or in your current job. Others do not.

There is no simple answer, it is lender specific.
If you are unsure speak to a broker and they can do the leg work for you. Alternatively you need to read up on lenders criteria whether they need you to have been in your current job for a set period and/or been working for a minimum period.

amnblog

You need plenty of advice. Not least before you go putting your inheritance money into a property to be jointly owned with your boyfriend.

A good start point would be a decent independent broker.

_CC_

amnblog wrote: »

You need plenty of advice. Not least before you go putting your inheritance money into a property to be jointly owned with your boyfriend.

^^ This

Ensure you're protected if worse comes to worse

EleriRhiannon

Thanks all.
I forgot to mention that my boyfriend has only been at his current job since June this year. I was working full time at my current job from March 2014 until July this year (I'm a Teaching Assistant). I'm still there, except I only work two days a week this academic year.
We've received a lot of advice but it all seems conflicting.
I don't intend to use ALL of my inheritance on a deposit although I would like to put down a good chunk, however my boyfriend would prefer it to be 50/50 with a smaller more equal deposit as he doesn't have a lot to give upfront. We trust each other and already live together in a rented property but IF anything was to happen we know that feelings can get in the way of trying to be civil, and having sensibly discussed the future we agreed that neither of us would have a problem with writing a prenup of sorts beforehand.

Ayles

You can always buy as tenants in common rather than joint tenants therefore splitting the %age ownership amounts should you end up parting company in the future protecting your front end loaded deposit