Student loan and mortgage help!

[velvetcandy]

Can anyone help me answer this... so I want to start a degree and need to talk a student loan out. Would my loan have an impact on my husbands ability to renew our mortgage? I’m not on the mortgage and won’t ever be but I was wondering if my loan would be taken into account when my husband looks to moving his mortgage in the future?

Hi - I got a mortgage for the first time a year or two ago, and no, student loans are not taken into account, or counted as debt in the way normal loans are.

The only thing that will be taken into account is the amount you have to pay off each month (minimal) from your future earnings, as this is a committed spend like any other.

Thansk

How much do you currently earn? Why won't you ever be on the mortgage?

If you go from earning well to being a student, that might affect his chances of a mortgage if they look at total household income and how many dependants he has, not sure, but unless you're tight on multiples, you might be able to find a lender that will accept you.

And once you've graduated, the loan repayments are tiny unless you earn over about £30k, so shouldn't affect your mortgage entitlement.

Have a read about what Martin Lewis says about student loans on Moneysavingexpert, because there's a lot of misunderstanding about how they're paid back.

Ive been a stay at home mum for over ten years and want to start a degree this October. I’ve never been on the mortgage as my credit rating wasn’t great when we bought our first home over ten years ago and I don’t earn etc so have never gone on it. I was just curios the student loan had an impact on my husbands ability to take out mortgage etc