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Applying for a mortgage - bursary payment
ChrisJM
Posts: 3 Newbie
Hi,
Myself and my girlfriend are currently applying for a mortgage. She is employed full time but I am a PhD student. I earn £14k a year tax free bursary with around £3k on top coming from a part time job. We have approached a number of 'high street banks' and found that they do not consider my bursary payment and as such can not offer us a mortgage. We have a deposit of around £20k and the house we are looking at is on the market for £155k.
Does anyone have any advice on possible options for us?
Thanks in advance,
Chris
Myself and my girlfriend are currently applying for a mortgage. She is employed full time but I am a PhD student. I earn £14k a year tax free bursary with around £3k on top coming from a part time job. We have approached a number of 'high street banks' and found that they do not consider my bursary payment and as such can not offer us a mortgage. We have a deposit of around £20k and the house we are looking at is on the market for £155k.
Does anyone have any advice on possible options for us?
Thanks in advance,
Chris
0
Comments
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I don't think anywhere take bursaries or the like
You'd probably just have to go on her salary and your pt one.0 -
Approach a broker.
Depending on the full circumstances a bursary can be acceptedI am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Halifax accept PhD stipends.0
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And Natwest. Depending on the circumstances and how long you've got left on the stipend.
Natwest and Halifax are the only two I could source when I was in exactly the same position in 2012. Things might have changed of course...0
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