Mortgage as a student

[Kafri]

Does anyone know any mortgage lenders who will accept student finance as a source of income?

Basically, my income has stayed the same but I get it as student finance as a mature student rather than from an employer. Our mortgage deal ends in august and I've just discovered that I cannot get another deal because I'm a student.
Is there any way around this. I don't really want to spend the next 2 years on a variable rate that my current deal will revert to in august.

The guy at my current lender said student finance didn't count as a guaranteed income but surely it's as guaranteed as a wage in the current climate. There are people being made redundant left right and centre making a wage less than 'guaranteed' - my DHs field of work included. (He's not due to be made redundant (fx) but there are many in his field being made so)

but its guaranteed to end ....

how much more than your fix is the svr?

Is it a loan or a Phd stipend?

It's standard student finance - I went back to uni after my mat leave for various reasons.
My employer was unable to let me go back to work part time, I had always promised my mum, who passed away last year that id go back one day and also as in want to do it for myself and our son.
At the min the SVR isn't bad but I'm worried about the base rate increasing this increasing my payments and it not being in my control.

Do you have anyone who owns a property that would act as a guarantor until you have a proper income?

With the new tighter checks on affordability for mortgages I don't think you stand much of a chance frankly of getting a different lender.

You could check with different brokers who would have information on a range of lenders rather than approaching separate lenders yourself, but I'm pretty sure they will all say a student loan is just that - a loan not an income

I had to wait until I had a job offer at the end of my PhD. Our new mortgage was arranged to start the same day my job did.

Are there rules on who can act as guarantor for us. I'm certain my in laws could however they're both in their sixties now. They own their property outright and are certainly more than 'comfortable' so bar age (and I'm not saying they're old by any means) are certainly in a good position to vouch for us. Is age a factor in whether a lender would allow them to act for us??

I should add, my FIL has an appt with their bank and has emailed their FA so are willing to help in any way they can - I'm not just assuming that it's a possibility. I'm just fretting a little over the unknown I guess.

I think it is pretty much impossible that they would class a loan as income. They don't even allow Phd stipends which is effectively a tax free salary so I think you might need to look at other options.