Mortgages for PhD students

As a university city, Cambridge is home to many students who wish to purchase their own home here.

Stipend income is paid to a person who could be working towards a PhD or completing research for a university.

A common enquiry that we receive is whether it is possible to base a mortgage on stipend earned income.

The answer is yes; 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.

To discuss your mortgage requirements further, please feel free to contact us.

NB: All mortgage quotations and approvals are subject to change, credit checks and a property valuation.

 

The actual interest rates available will depend upon your circumstances. Please ask for a personalised illustration. Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

A fee of £495 is payable upon completion of your mortgage. A fee only option of 1% of the loan amount, payable upon completion, is also available. 

 

  • Turney Mortgages

    Mortgages

    Our friendly, no fuss, truly independent approach to getting the best mortgage for you

     
  • Turney Equity Release

    Equity Release

    We will take the time to understand your hopes and concerns for the future.

     
  • Turney Insurance

    Insurance

    A wealth of experience in sourcing and arranging both personal and commercial insurance.

     
  • Turney Commercial

    Commercial

    Whatever the scale of your requirements our expierienced advisors can source the best deal.

     
  • Turney Legal Services

    Legal Services

    Our legal services, conveyancing and surveys