Students turned into LandlordsMake Text Bigger
The Loughborough Building Society has launched its new ‘Buy for Uni’ mortgage targeting university students who want to get onto the property ladder while they are still studying.
This is similar in criteria to the Bath Building Society student mortgage that has been available since 2012 see >> https://www.property118.com/student-buy-to-let-mortgages/33850/
The Loughborough BS will lend up to 100% of the purchase price with a maximum loan of £300,000 and minimum loan of £90,000
This is based on needing a parent, step-parent or grandparent to guarantee the loan and using income from friends renting the property to cover the mortgage payments. Any mortgage over 80% in loan to value will require security by way of cash or a charge over the guarantor’s main residence equity allowing.
Product are available on interest only or repayment basis and are from:
- 3 year discount at 4.54% max 100% LTV no completion fee
- 5 year discount at 4.54% max 100% LTV no completion fee
If you need assistance with a student mortgage or any other type of property finance then just complet the contact form below and we will be happy to help.