Student buying a house to rent?

hazyjo

deannatrois wrote: »

I assume you are thinking of renting out rooms? Otherwise you will not have enough to pay a mortgage back (assuming part time pay is not enough).

Besides which, the lender wouldn't count that rent as income anyway...

kzzhar0

deannatrois wrote: »

I assume you are thinking of renting out rooms? Otherwise you will not have enough to pay a mortgage back (assuming part time pay is not enough).

If you have 'other income' like rent, I believe you will find your student loan amount reduced if not gone.

And has already been pointed out, you will surely know by now that the loan is paid termly.., not all at once so you'd have to wait 9 months.

Hi yes all of this has been said, i have also written that i would only do this once i have graduated but nobody has really read my posts. I know that its paid termly as I have already done a degree a few years ago, this is a another one year course that I'm now doing. Thanks though

sheramber

well if you are buying after you graduate your title is wrong- you will not be a student buying a house to rent.

Do you intend to save up your student loan payments for the rest of the year and use that as 'savings' for your deposit?

kzzhar0

sheramber wrote: »

well if you are buying after you graduate your title is wrong- you will not be a student buying a house to rent.

Do you intend to save up your student loan payments for the rest of the year and use that as 'savings' for your deposit?

I guess you're right, I won't be a student anymore.

I have already been saving for quite a while so anything left I would've put towards this but wasn't aware that this isn't allowed and following on from all the negative comments, I doubt I'll be doing any of this now! I was just looking for a big of friendly guidance and advice.