Buy-for-Uni: How to be a student student landlord

It’s that time of year when students will be looking to sort out accommodation for the upcoming year, so what better time to learn more about our Buy-for-Uni proposition?

A Buy-for-Uni mortgage allows students to purchase a property local to their university, live in it, and rent the other bedrooms to fellow students, making themselves the landlord.

Buy-for-Uni: How it works

Instead of paying rent to a landlord, the student buys the property and receives rent from their housemates to help cover mortgage payments.

With deposits from as little as 0% and support from parents, they can buy a property near their university and start their journey on the property ladder.

There are no Early Repayment Charges on our Buy-for-Uni mortgage.

So, if the student’s university course ends before the term of the product does, they won’t be charged any extra fees to either convert to a Residential or Buy to Let mortgage, or even sell the property and move on.

Taking out a Buy for Uni mortgage would mean the mortgage is in the student’s name and wouldn’t incur another Stamp Duty cost.

100% LTV 5-year special offer – 5.45% which includes a 1.40% discount from the lenders Standard Variable Rate for 5 years,

Buy-for-Uni product features:

• £699 fee – This can be added to the loan on completion
• LTV – 100% – If over 80% LTV, then a parental helper is required to provide additional security. This can be done by depositing funds into the lender’s Savings Account or taking out a legal charge for the amount on the parental helper’s own property.
• Loan size – Minimum £125,000 – Maximum £400,000
• Capital & Interest or Interest-Only
• Free valuation on the parental helper’s property to be used for security.
• If the family helper deposits funds as security, the monies will be invested into a 35-Day Notice Account for the period of involvement with the mortgage and will receive interest associated with this account.
• Lending is restricted to England and Wales.
• The youngest borrower (student) to be less than 30 years old at application and in full-time education, with at least one year remaining on university course.
• No early repayment charges apply to this mortgage.

To see if you qualify for this mortgage, please contact me using the form below: