Student Mortgage

XOP21

Firstly can I even get one
I would be looking for flat for around £100,000, and I have a deposit of £17,000
I'd obviously need my parents help as I'm a student but they both work part time so there income isnt very high. They do own 100% of our house. Can that just be used as collateral or do your parents both need to be raking in 30k.
With the values I've given above I'm confident I could affored mortgage payments, as they should be similar to my current rent. I just need help getting the mortage in the first place.

Many Thanks

csgohan4

as per affordability criteria, what income are you proposing to pay off the mortgage every month? putting your parents on the mortgage will subject them to extra stamp duty as they will own a part of the house.

Equity release is often expensive.

They could get a mortgage on their house to release instead and then give you the money, but do they have 83k in their house to spare to you?

Owning a house is beyond the cheaper than rent rhetoric people are often told. Do you know how much a boiler costs, a leaking roof, repair costs? e.t.c

Why not focus on building your studies and career than being anchored down when one may not where they will be from a job point of view