This type of mortgage is targeted toward students. They often have a more limited incomes and don’t always have the best credit. They still need a place to live, though. Many choose living in dorms or renting an apartment over a mortgage, but it is sometimes prudent for them to just buy a home if they can. They usually do this if they’re going to college near where they want to start their careers and lives.
- Option gives students an opportunity to own a home with no student investment
- Requires parents or grandparents to guarantee the loan and provide the down payment
- rates are competitive and the title is in the students name
“The Buy for Uni deal is a hybrid between a normal buy-to-let mortgage and the society’s Family Assist mortgage, which allows first-time buyers to borrow 100 per cent mortgage with a parental guarantee.”
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