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Student Mortgages

Looking to purchase a property while in higher education? Read our guide on mortgages for students in the UK

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Pete Mugleston

Author: Pete Mugleston - Mortgage Advisor, MD

Updated: May 16, 2022

Being a student is often one of the most exciting chapters in a person’s life. You’ve launched out into a brave new world of learning and are getting ready to chart your course into a fulfilling career.

You may be looking into maximising your time at university by getting a mortgage for a property that will put you in good stead financially.

But without a steady stream of income, you probably have questions as to which lenders would accept your mortgage application and what the requirements are.

Can I get a mortgage as a student?

The answer is yes! The good news is that you can get a mortgage when you’re a UK student, and there are many providers happy to help you do so.

Mortgage providers in the UK offer mortgages for students aged 18 or older throughout the country. However, there are some additional stipulations for students mortgages. If you don’t have a form of income from employment or self-employment, lenders will require additional security from a guarantor (e.g., parent or other family members) to ensure you can handle repayments over the long-term.

Did you know… An Online Mortgage Advisor broker has access to more deals than any comparison site. Get Started to unlock more options and increase your chance of mortgage approval.

Student mortgages in the UK

Whether you are looking for student mortgages in Scotland, Wales, Ireland, or England, students throughout the UK are eligible for mortgages. However, without your own steady stream of income from employment or self-employment, you’ll need a guarantor.

Student mortgages in Scotland

Owning your first home in Scotland could soon be within reach. However, the high cost of property and living in Scotland can make the prospect of saving for your own deposit daunting.

The good news is that there are good student mortgage options in Scotland which will take your guarantor’s income into account. But you likely won’t need a guarantor for your property forever!

Should your financial situation considerably change later down the line, you can apply to have your guarantor released from the mortgage.

Call Online Mortgage Advisor on 0808 189 2301 for support in securing your optimal Scottish student mortgage.

Requirements for a student mortgage with a guarantor?

Most lenders will want your guarantor to meet the following criteria…

  • Be a legal guardian or direct family member.
  • Be a property owner.
  • Live in the UK and have a permanent right to residency.
  • Many lenders have a maximum age for the guarantor, for some this is 75-80 years of age.

In addition to these requirements for guarantors, you will likely need a minimum deposit of about 15% of the property value. However, with the help of an expert student mortgage broker, you could find lenders who offer 90% loan-to-value (LTV) mortgages..

In some cases, you may be able to secure a student mortgage with a 100% LTV ratio, meaning that you pay no deposit. Bear in mind, however, that your mortgage payments are likely to be much higher compared to a mortgage with a deposit.

If you’d like advice in finding a mortgage with the best possible interest rates and terms for your situation, make an enquiry!

We only work with highly qualified and experienced advisors and we go the extra mile to connect people to brokers who are specialists in securing the type of mortgage you’re after.

Find a lender oneline

Not quite ready to speak to an expert? Or want to arrange a mortgage by yourself? Get an OMA® Mortgage Report today to access your likely affordability, costs and list of lenders available to you.

  • A list of lenders that may consider you
  • Range of affordability
  • Range of monthly repayment amounts
Please note: OMA® Mortgage Reports are not advice – they provide an indication of potential costs and lenders to help borrowers find the right deal.
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What do I need in order to get a student mortgage?

In addition to having a guarantor, paying attention to the following factors could boost your chances of approval for a student mortgage:

  • Deposit amount: If you have a higher deposit there will likely be more lenders on the market who will approve your mortgage application, so you may wish to save for a larger deposit.
  • Credit history: If you don’t have a credit history, it may be wise to research ways to improve your credit before you make an application.

However, even a bad credit history and a low deposit to put forward doesn’t have to get in the way of your student mortgage!

There are specialist bad credit mortgage lenders on the market which cater to all situations, and the best way to find these more niche deals is to speak to an expert mortgage advisor.

Whether you have an early inheritance from relatives and parents that you can invest into a mortgage, or you’re a mature or postgraduate student and have savings at hand, the value of being a property owner can undoubtedly help you kickstart your financial future.

Make an enquiry and we’ll put you in touch with an expert mortgage broker.

How can I compare student mortgage providers?

The best way to find a student mortgage provider that’s right for you is to take the time to research and compare all the options on the market.

Here are some of the big brand student mortgage providers…

  • Halifax
  • Nationwide
  • Barclays
  • Virgin Money
  • Leeds Building Society
  • Santander
  • TSB
  • Aldermore

However, most people save a lot of money by working with a mortgage broker who can take you directly to the best student mortgage deal. Advisors also often have access to exclusive or lesser known deals. Sometimes smaller providers offer a more competitive rate to attract more clients!

Give us a call on 0808 189 2301 and we’ll put you through to an expert student mortgage advisor.

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Student Mortgage Calculators

There are lots of online calculator tools for students searching for the best rate for their mortgage. Using an online calculator can help you quickly compare mortgage rates, but they won’t help you compare the details of the terms and conditions of a mortgage – and these can vary considerably as they’re determined by the provider.

Student mortgage calculators also only offer a rough estimate and every lender uses a different tool. An independent mortgage broker, like the ones we work with, can provide accurate calculations and introduce the customer to the lender whose calculator is most likely to return favourable results for them.

How can I get a mortgage as a student?

The best way to get a mortgage as a student is to do whole-of-market research and compare all providers who are prepared to approve your mortgage application. Many people lose out on thousands of pounds of savings due to not searching the entire market for the best mortgage deal, though this process can be time-consuming.

There’s no shortcut or ‘one size fits all’ approach to getting a good deal on a mortgage: it’s one of the most important financial decisions you will make in your life and best made with the help of an expert mortgage advisor.

If you’d like support in finding a student mortgage that’s the right match for your situation, make an enquiry. We’ll connect you to an expert student mortgage broker who can save you time and money by taking you directly to the right providers for your situation.

How does student debt affect mortgage?

If you’re wondering how to get a mortgage as a student, you may have concerns over whether your student debt will affect your mortgage application.

In some cases, your student loans can impact whether or not you qualify for a mortgage application. However, what’s most important is that your finances are in shape and that you can prove you have the income and guarantors needed to make repayments.

How to get a mortgage with student debt

To get a mortgage with student debt, check your overall credit score and financial situation:

  • Do you have other credit card debts that you could pay off first to improve credit strength?
  • How big is your down payment offer? Do you have sufficient savings or inheritance income to put down a deposit of 15–20%?
  • What is the strength of your or your guarantor’s finances? Can you clearly afford to pay back your student debt over the long-term and make the mortgage repayments?

Whatever your situation as a student, whether with or without debt, these are important factors that lenders will take into consideration for student mortgages.

Did you know… An Online Mortgage Advisor broker has access to more deals than any comparison site. Get Started to unlock more options and increase your chance of mortgage approval.

Can PHD students get a mortgage?

Generally, the same provisions and requirements will apply to PHD students interested in mortgages as with other students. You will need to be able to prove that you have the money needed for a deposit and monthly repayments, and have a guarantor who can offer mortgage debt security.

Can PHD students get a mortgage with a bursary?

If you would like to use your PHD stipend for a mortgage, you may run into difficulties in finding a provider who will approve your application. This is because the stipend is only available for a set period of time after which you can’t guarantee income from employment.

However, there may be some exceptions in cases where you are also a student teacher or have other income from employment while you are completing a PHD. In addition, PHD students who have post-PHD work lined up may be eligible for a student mortgage on a bursary.

Your best bet for getting a mortgage as a PHD student is to speak to an expert mortgage broker. Make an enquiry and we’ll match you with the right broker for your situation.

Can mature students get a mortgage?

The answer is yes! As a mature student you can take out a mortgage, and lenders will judge your application based on the same basic criteria for general student mortgages.

It pays to be aware that the terms and conditions vary according to the mortgage provider and some will be more amenable to your situation than others.

However, even in cases where the larger high street lenders have strict requirements and may not approve a mortgage if you or your guarantor are applying for a low-income mortgage, there may be other providers which would consider doing so.

The key to a successful application is to seek out the help of a mortgage broker who understands how to calculate your student mortgage affordability and which providers are likely to offer you a loan. Make an enquiry and we’ll put you through to a specialist mortgage broker.

Mortgages for international students in the UK

The good news for international students who want to get a mortgage in the UK is that providers take your credit history and financial situation into account, not the country you were born in.

The obstacles to getting a mortgage as an international student could lie in the stringent requirements set out for student mortgage guarantors: you will need a legal guardian or a direct family member who is a property owner currently residing in the UK with a permanent right to residency.

Can I get a 100% student mortgage if I’m an international student?

Even if you don’t have a qualifying guarantor, there may be some exceptional cases in which lenders would offer 100% student mortgages.

If you’d like advice on finding student mortgage providers for international students or foreign nationals, make an enquiry to speak to an expert mortgage broker.

Speak to an expert about student mortgages today!

A mortgage is an excellent way to get some first-hand experience in the responsibilities that are part and parcel of being a homeowner, while saving money that would otherwise be wasted on rent. In addition, if you rent out rooms, your mortgage repayments could even be covered by your tenants.

If you’ve arrived at university and would like a mortgage, an expert mortgage broker can set you on track to a successful financial future. Whether you are a mature student, a PHD student, a medical student, an international student, or a student with university debt, there are plenty of mortgage providers ready to help you get started on the property ladder.

Call Online Mortgage Advisor on 0808 189 2301 or make an enquiry to be connected to the right advisor for your situation. We don’t charge a fee, and there’s absolutely no further obligation or marks to your credit rating.

About the author

Pete, an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete found great success in going the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained, coupled with his love of helping people reach their goals, led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.

Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for OMA of course!

Read more about Pete

Pete Mugleston

Mortgage Advisor, MD

FCA disclaimer

*Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.

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