Buy for Uni
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Buy for Uni

A Buy for Uni mortgage from The Loughborough could mean that you can buy a house to live in with the support of your family and rent rooms to cover the cost of the mortgage.

The principle behind the Buy for Uni mortgage is simple.  With the help of parents, a step-parent or grandparents a student can buy a house rather than pay a great deal of rent for less than great accommodation.  They rent spare rooms in the house to friends or fellow students and the rental income covers the mortgage payments.

We have products available on an interest only or repayment basis for the purchase of property in mainland England and Wales. You can find more information here.

Try our mortgage calculator

How much can I borrow?

How much can I borrow and what would it cost?

Our mortgage calculator is designed to show you how much you could potentially borrow and how much your monthly payments would be. The amount is based solely on your income without deducting household expenses and financial commitments. Your mortgage adviser will take you through the application process and will calculate the amount you can afford to borrow based on your income after the deduction of those expenses and commitments. Further restrictions may apply for specialist products.

Gross annual income

 

Mortgage details

 

Payment options

Your monthly repayments

 
Range dependent on the products in the comparison list below

Buy for Uni Mortgages

Variable Rate Mortgages
Product Initial rate Overall cost for
comparison
Max % LTV Completion fee Representative
Example
Mortgage
repayment

3 Year Discount

4.54% 5.0% APRC 100% £0 View
for 36 months
find out more

Representative example

A Mortgage of  £171,888.00, payable over 23 years (276 months) initially on a discounted rate for 3 years (36 months) of 4.54%  and then on our current standard variable rate of 4.84% for the remaining 20 years would require 36 monthly payments of £650.31 then 240 monthly payments of £693.28. This is based on an interest only repayment method. The total amount payable would be £363,695.75 made up of the loan amount plus interest (£190,452.75) and a £200.00 valuation fee, £900.00 booking fee, £30.00 CHAPS fee, £105 legal fees, and £120.00 mortgage exit administration fee. The overall cost for comparison is 5.0% representative APRC.

3 Year Discount

4.74% 5.0% APRC 100% £0 View
for 36 months
find out more

Representative example

A Mortgage of  £171,888.00, payable over 23 years (276 months) initially on a discounted rate for 3 years (36 months) of 4.74%  and then on our current standard variable rate of 4.84% for the remaining 20 years would require 36 monthly payments of £678.96 then 240 monthly payments of £693.28. This is based on an interest only repayment method.  The total amount payable would be £364,725.65 made up of the loan amount plus interest (£191,482.65) and a £200.00 valuation fee, £900.00 booking fee, £30.00 CHAPS fee, £105 legal fees, and £120.00 mortgage exit administration fee. The overall cost for comparison is 5.0% representative APRC.

5 Year Discount

4.54% 4.9% APRC 100% £0 View
for 60 months
find out more

Representative example

A Mortgage of  £171,888.00, payable over 23 years (276 months) initially on a discounted rate for 5 years (60 months) of 4.54%  and then on our current standard variable rate of 4.84% for the remaining 18 years would require 60 monthly payments of £650.31 then 216 monthly payments of £693.28. This is based on an interest only repayment method.  The total amount payable would be £326,664.87 made up of the loan amount plus interest (£189,421.87) and a £200.00 valuation fee, £900.00 booking fee, £30.00 CHAPS fee, £105 legal fees, and £120.00 mortgage exit administration fee. The overall cost for comparison is 4.9% representative APRC.

5 Year Discount

4.74% 5.0% APRC 100% £0 View
for 60 months
find out more

Representative example

A Mortgage of  £171,888.00, payable over 23 years (276 months) initially on a discounted rate for 5 years (60 months) of 4.74%  and then on our current standard variable rate of 4.84% for the remaining 18 years would require 60 monthly payments of £678.96 then 216 monthly payments of £693.28. This is based on an interest only repayment method.  The total amount payable would be £364,381.97 made up of the loan amount plus interest (£191,138.97) and a £200.00 valuation fee, £900.00 booking fee, £30.00 CHAPS fee, £105 legal fees, and £120.00 mortgage exit administration fee. The overall cost for comparison is 5.0% representative APRC.

How to apply...

The Loughborough mortgage service is tailored to each individual and offered on a fully advised basis where applicable. Our qualified advisers will spend time with you to understand your mortgage needs and financial circumstances before recommending the most suitable solution for you.

There are a number of ways you can arrange to talk to one of our friendly team of Advisers, choose what’s best for you: