We know everyone’s circumstances are different, that’s why we work with mortgage brokers who are experts in all different mortgage subjects.
As student debt continues to increase due to spikes in university fees, there’s no doubt that student loans and mortgages are currently and will continue to affect millions.
With this in mind, we’ve come up with a comprehensive guide that will help you get the best out of your student loan mortgage options.
How does a student loan affect a mortgage application?
Customers often ask us will a student loan affect my chances of getting a mortgage? and does having a student loan affect mortgages? and as we explained earlier, while student loans debt is not viewed in the same way as other types of borrowing, the majority of lenders will still ask you about it when applying.
- How much your repayment is each month and changes your income
- How much you have left to repay
Looking at how much your repayment is each month while considering student loans and mortgage qualification comes into play because student loans are deducted automatically from PAYE salaried workers.
On payslips, it will be shown in the same way as National Insurance Contributions and other taxes, which are predetermined according to your pay. What you are left with afterwards would be your net pay and in turn, what can be considered by lenders as a part of the money you have available to pay off your mortgage. Fortsett å lese «Can you get a mortgage with student loans?»