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Mortgage With PHD Stipend

Best Mortgage Rates

I Want To Buy I Want to Remortgage

Mortgage With PHD Stipend

    • 4.07% Initial
    • 5 year fixed
    • 6.3% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.07% Initial
    • 5 year fixed
    • 6.3% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.09% Initial
    • 3 year fixed
    • 7.3% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
    • Get quotes
    • 4.09% Initial
    • 3 year fixed
    • 7.3% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
    • Get quotes
    • 4.11% Initial
    • 5 year fixed
    • 5.8% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes

Representative example based on a fixed rate mortgage

A mortgage of £375,000 payable over 20 years initially on a fixed rate for 5 years at 4.38% and then at the standard variable rate of 7.65% for the remaining 15 years would require 60 monthly payments of £2,351.88 and then 180 monthly payments of £2,899.55.

The total amount payable would be £663,156.80 which includes interest and product fees of £1,124.

The overall cost for comparison is 6.5% APRC representative.

Early repayment charges may apply.

Mortgage With PHD Stipend

It can be hard to find a mortgage lender who accepts your PhD bursary or stipend income if you are studying for a PhD - not all lenders will consider your PhD stipend income when determining your affordability, making it difficult for you to obtain home financing.

Some lenders will consider bursaries and stipends as income sources.

What Documentation do you need to Apply for a Stipend Mortgage?

Not all mortgage lenders will consider stipend income and those that do will want you to provide the correct paperwork including:

  • University Letter - Confirmation from the university or college confirming enrolment on your PhD programme confirming the income that will be paid to you.
  • Bank Statements - Typically a lender will require your last 3 months bank statements evidencing your financial behaviour and stipend income payments
  • Bank deposit - Evidence of the deposit you will be putting down on the property

How much can you Borrow with a Stipend Mortgage?

It will depend on the lender but typically 4.5x your annual stipend. 

Additional income e.g. from a part time job could be included to help bump up your borrowing power.

Special features of what we offer include:

  • Access to leading market mortgage rates
  • Access to High street & specialist lenders who will consider stipend income
  • Fast turnaround - speak to us today

In a transaction as important as a mortgage, you need to seek good advice.

Independent Advice

If you are not sure what your PHD stipend mortgage options are then speak to our independent mortgage broker team who will be able to offer impartial advice or you can call us on 0117 403 3464

Get a Mortgage with a PHD Stipend PHD Stipend Mortgage Quotes
Get a Mortgage with a PHD Stipend PHD Stipend Mortgage Quotes