Mortgage as a student?

[makkmiss]

Hi all!

I am a qualified nurse and after working for a few years as this, I am now doing a one year postgrad diploma to become a health visitor. I am technically employed as I get a salary and my employers have been granted NHS money to fund my studying. DH and I were planning on buying our first home in a few months, however from just general enquiry from the bank they have said I might not be accepted as I’m a student and it might be a risk to them. They advised to apply anyway when we are ready and to see but I’m stressing we won’t get accepted.

I didn’t initially see this to be an issue since it’s career progression and when I finish I will go up a band so have a higher salary. Also, with nursing you always have a job 100% so there’s no uncertainty of getting employed. Our current rent is more than what the mortgage would be as we are looking at a 20% deposit (have almost finished saving this up hence waiting a few months) so we can definitely afford it. Anyone have any tips on proving I’m not a financial risk for the bank? Feeling really clueless as a first time buyer and google isn’t much help for this!

We actually got our mortgage on a teacher training bursary, might be worth going to a specialist broker! We were told the same but when we found a lender it was very easy. We needed letters from my training provider and statistics on maths teachers in employment

My son is buying a house with his wife, he is technically a student like you, but has an NHS salary and he's had no problems. Talk to a specialist mortgage advisor.

You need to go to a mortgage broker and see what they can do for you, it should be possible to get a mortgage in your circumstances

If you are still getting a salary can you just call yourself trainee health visitor rather than student

When we bought our house I was at university full time, they factored their decision on my part time wages and didn't consider the bursary I got. If you have a steady income I don't see why there would be an issue. Maybe see a mortgage advisor to get a better idea of who would approve a mortgage for you.