Student mortgages remain popular
October 24, 2007 by admin
Filed under News, News-Mortgages
Despite the imminence of a market cool down, students are still looking to invest in property in their university town.
According to recent research by Abbey mortgages found that as many as 66,000 students already at university want to get a mortgage on their own place.
Furthermore, it found, 14 per cent of the student population hope to buy a house in their university town. This represents an impressive total of 154,000 students.
Nici Audhlam Gardiner, head of mortgages at Abbey, commented: “Britain’s student population continues to be a source of income for buy-to-let property investors, many of whom are parents of the students or the students themselves.”
He added that the most important issue to think about is affordability, especially when getting a buy-to-let mortgage.
Many students (44,000) have parents who are thinking of investing in property in a university town. The same amount hopes to invest with friends whilst at university.
With increased concern to find “green” financial products, the Co-operative bank has advised that there are many different options in this field from lenders and borrowers must shop around to find an option that best suits their needs.
