THE INFORMATION ON THIS WEBPAGE IS FOR THE USE OF PROFESSIONAL INTERMEDIARIES ONLY

Family Assist for Students

31/01/2018

Gross rental income must cover the mortgage payment (calculated at the
Society’s BTL stressed rate on an interest only basis) by a minimum of 145%,
calculated after assuming no void periods after taking into account any other
borrowings. Evidence of actual or anticipated rental income is obtained by
reference to a mortgage valuation report. Rental income declared will be
compared to the estimated rental figure provided on the valuation report and the
lower of the two will be used to assess the 145% coverage

  • ICR calculated will be based on rent from the remaining let rooms only exclusive
    of room occupied by child
  • Maximum 3 bedrooms
  • Parents can buy a property for their child to reside in whilst attending education
    with remaining rooms being let to other students or young professionals on a
    single AST
  • Property must be within 15 miles of the higher education campus being attended