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

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

15:10 PM, 8th March 2023, About 9 months ago

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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:

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