Stipend income is paid to a person who could be working towards a PhD or completing research for a university. It is possible for PhD students to acquire a mortgage. Current lending criteria is that the applicant who earns a stipend income must be purchasing a property jointly with another applicant who does not a stipend income.
Lenders usually request a Letter of Confirmation from the Payer to show the applicants’ name and the monetary value of the stipend allowance to support a mortgage application