New mortgage.. becoming a Full time student

[jlr1986]

Morning everyone, I'm hoping someone could give me advice or what you would do in this situation! I have been offered a full time place at university to start in September 2022. This wasn't my intentional plan, I was thinking 2023 but passed all interviews and now have a place! So am very excited to start on my new career. The only stumbling block is that I have been in the process of buying a property which is taking longer than enticipated. I have now had the contract and should close next week (or within a couple of weeks). Would it be too soon a change of circumstances to start university in September this year? Would others leave it another year to start? I am financially better off as a student (mad I know!) However banks don't class loans and grants as Income as it isn't taxed. So should I go for this year or next? Thanks for reading!

I quit my job the day after I completed on my first home and then took 6 months off work, funding by savings.

If you can financially afford your mortgage as a full time student then the bank won't care that your situation changed very soon after it starts.

All you need to make sure is that the bank has approved the mortgage and that you have provided them with evidence of your current income which it sounds like you have done already.

You can quit you job once the house purchase is completed if you want! the bank won't know and as long as you pay the mortgage they won't care.

I would maybe look at finding a part-time job while you are studying to keep an income coming in though.

Good luck with your studies!