Kris TD
Member
Registered: 25th Mar 02
Location: Ware, Hertfordshire
User status: Offline
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anyone tried getting one with a student loan? if so did you have much success or am i better off paying the loan off first then getting one?
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Bennn
Member
Registered: 20th May 01
Location: was newcastle now Sweden
User status: Offline
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a few lenders wont give you a mortgage if you have a loan where payments will last for longer than 12 months
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Kris TD
Member
Registered: 25th Mar 02
Location: Ware, Hertfordshire
User status: Offline
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bollox, well looks like all that money ive saved for a new car is going to the bank then, now thats a real arse 
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vibrio
Banned
Registered: 28th Feb 01
Location: POAH
User status: Offline
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not sure you'll get one with a student loan. you;d need to be working.
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M2RTY
Member
Registered: 25th May 01
User status: Offline
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he means he is working but owes X amaount on his student loan
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Kerry
Member
Registered: 5th Oct 01
Location: Norwich
User status: Offline
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speak to a mortgage advisor they are alot more accomodating these days
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Trotty
Member
Registered: 22nd Feb 01
Location: Bristol
User status: Offline
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I wouldn't imagine it would be that much of a problem? Lots of people are in similar circumstances and manage to get mortgages, etc. The actual student loan payments aren't that high IIRC, it's just the total amount that you owe which will come off your borrowing amount which will be a pain in the arse.
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Dan B
Member
Registered: 25th Feb 01
User status: Offline
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...which is exactly why I'm renting until I've paid off my two loans! 
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Phil321
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Registered: 10th Mar 01
Location: Manchester
User status: Offline
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How much do you have to pay back per month on the student loans?
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Kerry
Member
Registered: 5th Oct 01
Location: Norwich
User status: Offline
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its a long shot but couldnt u run somethin alongside the mortgage to include the student loan maybe??
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Dan B
Member
Registered: 25th Feb 01
User status: Offline
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quote:
Originally posted by Phil321
How much do you have to pay back per month on the student loans?
Only £40 a month on the student loan, but £155 a month on the graduate loan which should be paid off in about another 12 months (took it out on a 3-year policy)
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M2RTY
Member
Registered: 25th May 01
User status: Offline
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kris,
i belive they will give u 3, 3.5, 4 times your anual wage MINUSE any debts
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Phil321
Member
Registered: 10th Mar 01
Location: Manchester
User status: Offline
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Did you get the student loan every year?
Is there a certain amount you have to be earning before you have to start paying it off?
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Kris TD
Member
Registered: 25th Mar 02
Location: Ware, Hertfordshire
User status: Offline
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well i have a 7k student loan but im not paying anything off it at the moment as i am going to do it in lump sums, thing is a left uni so at the moment the student loans company think im on a placement year which is why i havent had to pay anything back from my wages this year. yeah the interest is only like £3.50 a month,
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Kris TD
Member
Registered: 25th Mar 02
Location: Ware, Hertfordshire
User status: Offline
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quote:
Originally posted by M2RV H
kris,
i belive they will give u 3, 3.5, 4 times your anual wage MINUSE any debts
you see thats the other problem, although i earn silly amounts of money its only a tempory contract, i have a bad feeling that this is gonna screw me over too. think i best reaccess the situation in a few months after i have a confirmed permanent contract.
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Kerry
Member
Registered: 5th Oct 01
Location: Norwich
User status: Offline
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doubt they will give u anything on temp contract
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Kris TD
Member
Registered: 25th Mar 02
Location: Ware, Hertfordshire
User status: Offline
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i dunno though cos my parents will go guarentor on it and they have 3 properties so that might have a bearing on how much i could get.
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Phil321
Member
Registered: 10th Mar 01
Location: Manchester
User status: Offline
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How old are you?
Do you really want a huge mortgage hanging over you when you are so young?
Should be out having fun, not worrying about a mortgage!
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Kerry
Member
Registered: 5th Oct 01
Location: Norwich
User status: Offline
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quote:
Originally posted by Kris TD
i dunno though cos my parents will go guarentor on it and they have 3 properties so that might have a bearing on how much i could get.
i dont think its as simple as that though
u take a mortgage out on ure earnings, like marv said its something like 3 and half times yearly amount and u can have a 2nd person which then its either half and half or 60/40 depending on who earns wot
y dont u get ure mum and dad to buy it and u just pay it then in a few years take it on ureself 
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Kris TD
Member
Registered: 25th Mar 02
Location: Ware, Hertfordshire
User status: Offline
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im 21, i earn 26500 a year, but its not permanent.
as for the mortgage, propertiy prices in my area keep going up o even if i did decide to sell it i shouldnt loose any money.
i need to speak to my parents properly about money, they have a monster mortgage at the mo though as they took out another one to buy 2 more properties.
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CORSA NUT
Member
Registered: 3rd Aug 01
Location: Wirral
User status: Offline
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26.5K? Sweet.
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Kris TD
Member
Registered: 25th Mar 02
Location: Ware, Hertfordshire
User status: Offline
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yeah, but i work 12 hour shifts days and nights. its really shit job but i cant offord to leave at the mo.
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Dan B
Member
Registered: 25th Feb 01
User status: Offline
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4 on (2 days then 2 nights), then 4 off, repeated?
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CORSA NUT
Member
Registered: 3rd Aug 01
Location: Wirral
User status: Offline
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quote:
Originally posted by Kris TD
yeah, but i work 12 hour shifts days and nights. its really shit job but i cant offord to leave at the mo.
Ouch! It's all about the green at the end of the day though eh
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Kris TD
Member
Registered: 25th Mar 02
Location: Ware, Hertfordshire
User status: Offline
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nah, its wierd shift pattern.
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