Students now preferred over professionals by lender!Make Text Bigger
Anyone else come across mortgage provider preferring student let to professionals?
I have a house of 4 that has been let as is for 8 years and always instructed to put them on one contract – I had previously done 4 separate as they come and go at different times, but got turned down by one for doing this and the question is always ‘any students’. This time I’ve all my ducks in a row 4 professionals on one contract, 4th renewal and been turned own because they (Godiva) don’t want 4 ‘professionals’ but would take 4 students.
I’m just stunned, likewise my broker. Insurers always want ‘professionals’ – I’ve never quite seen the sense of this as being in Central London I can have overseas students who pay 6 months in advance and pay higher rents, but would always compromise my insurance and mortgage.
I’d be interested to hear if anyone else has come across this, but it’s nice to know that finally the lenders are catching up – as they finally did with HMOs
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