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Getting a mortgage as a student is possible, even if you have little or no regular income. We explain the different mortgage options available to students, how much you could borrow, the help you may need from your family and the risks to consider.
Getting a mortgage as a student is possible, but if you have little or no regular income, you’ll usually need a specialist mortgage and support from your family.
KEY INFORMATION
Yes, it is possible to get a mortgage as a student. However, if you’re studying full-time and have little or no regular income, getting a standard residential mortgage can be difficult.
In this scenario, one option is a specialist Buy for Uni mortgage, which is designed specifically for students and usually involves family support.
Some specialist student mortgages even let you borrow up to 100% of the property’s value, although family members will usually need to provide additional security.
Some students may also qualify for a standard family-assisted mortgage, such as a guarantor or joint borrower sole proprietor (JBSP) mortgage, although many of these require the student to have their own income. If you have sufficient income yourself, a standard residential mortgage may also be an option.
Student mortgages can work in different ways, but a specialist option for students with little or no regular income is a Buy for Uni mortgage.
Buy for Uni mortgages are specialist products designed for students who want to buy a property to live in while they study.
They often involve family support. For example, a parent may join the mortgage as a non-owning joint borrower, while family savings or equity in a family home may be used as additional security.
Some products offer up to 100% LTV and may also take expected rental income from spare rooms into account when assessing affordability.
Some examples of current Buy for Uni mortgages include:
Mortgage products and eligibility criteria can change, so check the latest details before applying.
The pros and cons of Buy for Uni mortgages can include:
| Pros | Cons |
|---|---|
| You own a property rather than paying rent to a landlord | You take on the responsibilities of a mortgage and of being a landlord |
| Rental income may help cover mortgage payments | Parents may be jointly liable for the whole mortgage and family savings or property may be at risk |
| You can choose where you live and who you share with | You’ll need to budget for maintenance, insurance and other costs of owning a property |
| You may benefit if the property increases in value | Property values can fall as well as rise |
Get fee-free mortgage advice from the award-winning expert advisers at Mortgage Advice Bureau.
Your home may be repossessed if you do not keep up repayments on your mortgage. Please note some branches of Mortgage Advice Bureau may charge a fee for mortgage advice if you go direct. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed. So make sure you use this site, this form or phone number for fee-free advice.
Eligibility for student mortgages varies between lenders, but here are some of the things to consider:
Yes, potentially. PhD and other postgraduate students may be eligible for a student mortgage, although criteria vary between lenders. They may consider factors such as how long you have left on your course and whether any stipend or other income can be taken into account.
Yes, potentially, but your options may be more limited. Lenders can have strict residency requirements, such as how long you’ve lived in the UK and your right to remain. Your income, deposit and credit history may also affect which mortgages you can get.
The deposit you’ll need for a student mortgage depends on the lender and mortgage you choose.
Some specialist Buy for Uni mortgages allow you to borrow up to 100% of the property value. This can mean you don’t need to provide a traditional cash deposit, although family security may still be required.
You’ll also need to cover the usual costs of buying a house such as legal fees, a survey and valuation, mortgage fees, moving costs, insurance – and possibly stamp duty.
Be aware that opting for a 100% mortgage also means you are more vulnerable if property prices fall. If the value of your home drops below the amount you owe, this is known as negative equity.
If family savings or property are used as additional security, check with the lender when and how that security can be released, as the rules vary between products.
There isn’t one standard income multiple for student mortgages. How much you can borrow depends on the lender, the property and how affordability is assessed.
With some Buy for Uni mortgages, lenders may consider expected rental income from spare rooms as well as income from the student and any joint borrowers.
Buy for Uni mortgages may be available on either a repayment or interest-only basis, depending on the lender and product.
Get fee-free mortgage advice from the award-winning expert advisers at Mortgage Advice Bureau.
Your home may be repossessed if you do not keep up repayments on your mortgage. Please note some branches of Mortgage Advice Bureau may charge a fee for mortgage advice if you go direct. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed. So make sure you use this site, this form or phone number for fee-free advice.
Some student mortgages allow you to rent out spare rooms to other students, with the rental income helping towards the mortgage payments. But you must check your lender’s rules and get any permission required.
There is an important distinction between having a lodger and running a house in multiple occupation (HMO). In England, a property is generally an HMO if at least three people from more than one household live there and share facilities such as a kitchen or bathroom.
If five or more people live there, forming more than one household, it will usually need an HMO licence. Some councils also require smaller HMOs to be licensed, so check with your local authority.
You also need to check that you have the right buildings and contents insurance in place if you are renting out rooms. If in doubt, speak to your insurer.
As a landlord you need to take your responsibilities very seriously. These can include safety checks, gas and electrical requirements and protecting tenants’ deposits. Read more in our guide Renting out your home: the ultimate guide.
Buying a property while you’re at university could work out cheaper than renting, but it isn’t guaranteed.
The average student paying rent spends £575 a month on accommodation, according to ‘Save the Student’s 2026 National Accommodation Survey, while 61% of students said they struggle with the cost of rent.
You need to consider the full cost of buying and owning the property, as well as any rental income you could receive from other students.
If you’re weighing up buying versus renting, don’t just compare your monthly rent with the mortgage payment. You also need to consider:
| If you buy | If you rent |
|---|---|
| Cost of mortgage repayments and fees | Paying for rent for the time you’re at university |
| Conveyancing fees, survey costs and Stamp Duty, if applicable | Tenancy deposit and other upfront costs |
| Maintenance and insurance | No responsibility for major property repairs |
| Selling costs when you leave | No property selling costs |
| You may receive rental income from spare rooms | No rental income from the property |
| You may benefit if the property rises in value but could lose money if its value falls | You’re not exposed to changes in the property’s value |
There is also the value of the property to consider. If the property rises in value, you could benefit when you sell. If its value stays the same, buying and selling costs could reduce or wipe out any financial benefit. And if its value falls, you could lose money or even fall into negative equity, particularly if you’ve borrowed close to 100% of the property’s value.
The type of mortgage you take out can also have a bearing. If you take out a repayment mortgage, part of each monthly payment reduces the amount you owe, helping you build equity in the property.
However, some Buy for Uni mortgages are available on an interest-only basis. In this case, your monthly payments don’t reduce the amount you’ve borrowed, so you’ll still need to repay the capital at the end of the term.
So whether buying or renting works out cheaper overall will depend on factors such as how long you own the property, local rents and house prices, your mortgage costs, maintenance and other expenses, any rental income you receive and what happens to the property’s value.
Get fee-free mortgage advice from the award-winning expert advisers at Mortgage Advice Bureau.
Your home may be repossessed if you do not keep up repayments on your mortgage. Please note some branches of Mortgage Advice Bureau may charge a fee for mortgage advice if you go direct. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed. So make sure you use this site, this form or phone number for fee-free advice.
If you buy a property while you’re a student, there are several taxes you may need to consider.
The rules can be complicated, particularly if you rent rooms to other students, so consider getting professional tax advice if you’re unsure how they apply to you.
Being a student doesn’t exempt you from Stamp Duty. However, if you’re buying your first home in England or Northern Ireland, you may qualify for first-time buyer Stamp Duty relief.
You won’t qualify for first-time buyer relief if you’ve previously owned a residential property anywhere in the world, including one you inherited or were given. If you’re buying the property jointly with someone else, all the purchasers must be first-time buyers and intend to use the property as their main home to qualify for the relief.
If you’re buying jointly with a parent and they already own a home, you’ll usually need to pay the additional rate of stamp duty, which is 5% higher than standard rates.
However, many Buy for Uni mortgages allow a parent to join the mortgage without becoming an owner of the property. In this situation, a parent’s existing home wouldn’t usually make the student’s purchase subject to the higher Stamp Duty rate.
And if the student is a first-time buyer, they may still qualify for first-time buyer relief, provided they meet the other conditions. Check the ownership arrangements and Stamp Duty position with your conveyancer before buying.
Note that these scenarios are based on the stamp duty rules in England and Northern Ireland; different taxes and rules apply in Scotland and Wales.
If you rent spare rooms to other students, the rental income may be taxable.
However, if the property is your only or main home and you’re letting furnished accommodation, you may qualify for the Government’s Rent a Room Scheme. This can allow you to receive up to £7,500 a year in rental income tax-free.
Bear in mind that the Rent a Room Scheme has specific eligibility rules, so don’t assume that all rental income from a student property will automatically qualify.
If the property has been your main home, you may qualify for Private Residence Relief, but renting out rooms can affect your Capital Gains Tax position, so consider getting tax advice before you sell.
Buying a property while you’re a student may have benefits, but it is also a significant financial commitment. Some of the main risks for students and their parents include:
What happens after graduation will depend on your mortgage and what you want to do with the property. Your options may include:
If you want to apply for a student mortgage, here’s a step-by-step guide to the process:
Get fee-free mortgage advice from the award-winning expert advisers at Mortgage Advice Bureau.
Your home may be repossessed if you do not keep up repayments on your mortgage. Please note some branches of Mortgage Advice Bureau may charge a fee for mortgage advice if you go direct. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed. So make sure you use this site, this form or phone number for fee-free advice.
Yes, potentially. Some specialist mortgages do not require a student to be earning a traditional salary. However, the lender will still need to be satisfied that the mortgage is affordable. This might involve considering parental support and, in some cases, rental income from spare rooms.
Yes, some lenders may accept a stipend as income, such as funding received by some PhD and postgraduate research students. Whether it is accepted will depend on the lender, the type of stipend and the mortgage product. An expert adviser can help check which lenders may consider it.
Yes. Some specialist lenders offer 100% mortgages which can mean you don’t need to provide a traditional cash deposit. However, additional security from parents or other family members may be required, and you still need to meet the lender’s affordability criteria.
Yes, potentially. If you have sufficient income and a deposit, you may be able to qualify for a mortgage without family support. However, many specialist Buy for Uni mortgages are designed to involve parental or family support, so your options may be more limited if this isn’t available.
Having a student loan doesn’t automatically stop you getting a mortgage. Student loans don’t usually appear on your credit report or affect your credit score in the same way as other borrowing. However, lenders may take your monthly student loan repayments into account when assessing affordability. Read our guide to How student loans affect mortgages.
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