Yes, you can get a mortgage on a property with a flat roof. However, you may find lenders less likely to give a loan as they are considered a higher risk investment. This is because they are more susceptible to leaks and structural damage from the accumulation of rainwater. A specialist broker will be able to pair you with lenders that are more willing to lend on this type of property.
Can I get a mortgage if I'm a university student?
Yes, you can. If you have minimal or no income as a university student, you may wonder if you can get a mortgage. As long as you can prove that you and any joint mortgage holder are able to comfortably keep up with repayments, then you should be able to get a loan. It helps if your credit score is good, and we recommend speaking to a specialist mortgage broker, as they work with lenders who have more flexible lending criteria.
How does a student mortgage work?
If you’re a younger student, it may make sense to add parents as joint borrowers on the mortgage. That way, you may be able to secure a mortgage that lends 100% of the property value, depending on the financial circumstances of you and your parents.
Does student finance count as income for a mortgage?
No. While you can use student finance payments to help pay the deposit, student finance does not count as income as it is not taxable, and it’s expected that some or all of your loan will be repaid. This means lenders do not recognise this as a feasible way to keep up on mortgage repayments.
Can I still get a mortgage if I don't receive a traditional salary?
Yes – if you don’t receive a regular income, you can still secure a mortgage. If you work as a medical professional or are a freelancer, for example, lenders will take into account your savings and assets and delve into your income history. The income and financial history of a joint mortgage holder will also be taken into account.
Do doctors get better mortgage rates?
It depends, but professional doctors can get better mortgage rates as their profession is seen as lower risk by lenders.
Can I get a mortgage on a listed property?
Yes – it is possible to get a mortgage on a listed property. However, not all lenders will work with this type of property due to them being considered a higher risk investment. You may also find that lenders impose stricter lending requirements, such as paying a larger deposit.
Do medical conditions affect mortgage applications?
No – as long as you can afford a mortgage, there is no reason an illness, disability or being on maternity or paternity leave should impact your ability to secure a loan. You are protected from discrimination under the Equality Act 2010.
Can a single person take out a mortgage?
Yes – lenders do grant mortgages to single applicants. You will need to prove that you can keep up with repayments. By consulting with a broker and financial adviser, you should get a better idea of how much you can afford and take steps to help boost your chances of securing a loan.
