NEW: Got questions about energy? Put them to Gary and Andrew from MSE's Utilities team during our energy-themed 'Ask An Expert' event. Check back here from Tuesday 9 August, 12pm

Buyin House. Still a Student

in Student MoneySaving
3 replies 2.8K views
Have been a student for past 2 years and i am sick of throwin money down the drain into rented properties

My girlfriend has just finished uni and has started working makinn about £10,000 year. I will be on my placement year and will be earnin about £12,000 but then i have 2 go back for my final year, so it will be back 2 my student loan. I would like to buy a house in the student area. Parents would be gurantor!

Do u think this is a good idea?
Am i rushin into this 2 quickly?

Note: I would like to do this as if it worked out maybe in the next 3 years i would but another and so on.

Replies

  • loumunchloumunch Forumite
    4 Posts
    My boyfriend and I bought a flat last year when I was a first year student at uni.
    We managed to get a 100% mortgage for £52,000 from Northern Rock based on my boyfriend's salary of £14,500.
    For peace of mind we chose a fixed rate mortgage for the first 3 years, and with the recent interest rate rises we now have a pretty good deal.
    Our monthly repayments are less than our rent was, so if you are ready for the commitment, go for it!
  • SystemSystem Forumite, Community Admin
    177.9K Posts
    10,000 Posts Name Dropper
    Community Admin
    My girlfriend and me bought a house as students. We used my dad as a guarentaur and they gave us a 60K mortgage. We got a 3 year fixed mortgage with halifax, who were really helpful.
  • TravelqueenTravelqueen Forumite
    204 Posts
    Try also Bank of Irelands first start....

    Good luck!

    TQ
    One day everything I earn will be mine and not the banks... ::rotfl:
This discussion has been closed.
Latest MSE News and Guides

Homes, hornets & high heels

This week's MSE Forum highlights

MSE Forum

Kids eat for 'free' or £1 this summer

Little ones can enjoy hot meals for less

MSE Deals