We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
student mortgage?
dop_2
Posts: 2 Newbie
Hello,
Just wondering if anyone can offer some advice for Phd students getting funding from universities to complete their studies. I'm starting mine this year and I want to extend my borrowing on my current mortgage. I owe about £24500 and need £15000ish for repairs. I'll be on a 3 year contract with the university, but it's a tax-free stipend of £12000 a year. Obviously if you put that figure into a mortgage calculator, it comes up with not much.
I think I would I be classed as a contract worker given that it's a 3 year contract. Which lenders will be of any use? I am currently working for the university on a 1 year contract which ends the day before the Phd starts, so I'll have held a contract with them for 12 months in october.
Any hints are gratefully received.
Just wondering if anyone can offer some advice for Phd students getting funding from universities to complete their studies. I'm starting mine this year and I want to extend my borrowing on my current mortgage. I owe about £24500 and need £15000ish for repairs. I'll be on a 3 year contract with the university, but it's a tax-free stipend of £12000 a year. Obviously if you put that figure into a mortgage calculator, it comes up with not much.
I think I would I be classed as a contract worker given that it's a 3 year contract. Which lenders will be of any use? I am currently working for the university on a 1 year contract which ends the day before the Phd starts, so I'll have held a contract with them for 12 months in october.
Any hints are gratefully received.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.6K Work, Benefits & Business
- 602.9K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards