Jason Bailey

Expertly compared by Jason Bailey

Products Updated October 28, 2021

 

Mortgages for Student Lets

If you require a mortgage or remortgage for student accommodation then our buy to let mortgage experts can help. They have access to the whole BTL mortgage market and will find, compare and arrange your mortgage for free.

 

Free Buy to let mortgage advice and brokerage. Our experts can find you the best deals and have access to exclusive rates:

1 providers expertly compared:

Lending Expert

Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

LTV
50% - 85%

Initial Rate
1.44% - 5.29%

Standard Rate (SVR)
4.99%

APRC
4.7% - 5.2%

Type
Variable & 3 ,5 & 10 Fixed Rate

Rated 4.8/ 5

All credit types

The buy to let mortgage experts at First Choice Finance can quickly assess your requirements and search the market place to find you the perfect mortgage deal. Click get a quote to make an enquiry today.

Read our customer and visitor reviews for this product:

Rating: 4 / 5 with 1 votes

Limited market products from the BTL sector

by Henderson

There agents were quick to call me back and were very friendly and helpful. BTL products were limited however.

Mortgages for Student Lets With Lending Expert

If you require a mortgage or remortgage for student accommodation, our buy-to-let mortgage experts can help. We have access to the whole BTL mortgage market and will find, compare and arrange your mortgage for free. Speak to one of our professionals today!

 

Key Points

  • Student let mortgages are loans to be used to buy a property which you will rent out to students.
  • Individual lenders have their own criteria, but to be approved for a student buy-to-let mortgage you’ll likely need your rental income project to cover the mortgage by at least 125%.
  • Student lets are a better long-term investment than short-term investment.
  • You’re likely to need at least a 25% deposit.
  • You have to pay stamp duty on student buy-to-let properties. 

 

What Is a Student Let Mortgage?

A student let mortgage is a loan that is designed to be used to buy a property that you will then let out to students.

If you’re looking at renting to students, there’s two main types of property that you’re likely to buy – large houses or purpose-built accommodation. Large houses will likely need to be restructured in order to house several students at once and maximise your profits. If you opt for purpose-built accommodation, it will likely already be structured as flats or self-contained units.

Our expert advisors at Lending Expert can provide professional, impartial advice. Speak to a member of the Lending Expert team today to start your student buy-to-let mortgage application.

 

Am I Eligible for a Student Buy-To-Let Mortgage?

Each lender has their own specific criteria that they assess applicants based on. However, there’s some things that most lenders will look for. This includes:

  • Does your rental income project cover the mortgage by at least 125%?
  • Can you afford the deposit for the mortgage?
  • What is your credit history like?
  • Is the property considered ‘standard’?
  • Do you need a HMO license?

If you have any questions, just get in touch with a member of our expert team.

 

 

Advantages of Investing in Student Property

Many people invest in student property and take out mortgages for student lets. There’s so many reasons why people choose to do this, but just some of them include:

  • If you’re a parent to a student, this can be a great way to help out your children. Student rentals are often very expensive, so investing in student property is a way for parents to contribute and financially support their children. 
  • Investing in stent properties is a great long-term investment as house prices often increase in the long term.
  • If you opt for the ‘traditional’ large student house, these tend to stand the test of time as many students opt for a shared house in their second year and beyond. 
  • You won’t have to worry about investing in brand new furniture and appliances – students are generally undemanding tenants who aren’t particularly fussy.
  • If you rent out a student buy-to-let to multiple tenants, you’ll have great income security. You’re also able to request each tenant has a guarantor in case they fall behind on rent payments, securing your funds.

 

Disadvantages of Investing in Student Property

  • A student buy-to-let may be a risky option if you’re only looking for a short-term investment.
  • There could be downtime during holidays when tenants won’t need to live in the student property. However, you could avoid this by offering a 12 month contract. 
  • Whilst not all students are disruptive, a select few will take the party lifestyle too far. This could mean noise complaints and damage repairs. You should factor this into your deposit.
  • The property may need an energy performance certificate, annual gas check certificate, and a housing health & safety rating.

 

Why Should I Use Lending Expert for My Student Lets Mortgage?

Here at Lending Expert, we work with many high street banks and specialist mortgage lenders. We’ve got access to over 1,000 mortgage deals and are in the perfect position to help you get your student let mortgage approved and get the best rates. 

You can use our free and easy-to-use eligibility checker for an indicative quote with no obligation.

We were founded in 2013, and have years of experience working in the secured loan and mortgage market – we’ve helped thousands of customers to date. Our values have always been to find the right product for the right individual at the most competitive rate – and we are pleased to offer our services for you today! Start your application today for a student buy-to-let mortgage!

 

How Much Deposit Do You Need for a Student Buy-To-Let Mortgage?

It’s likely that you’ll need to have a larger deposit for a student buy-to-let mortgage than other types of mortgage. It’s probable that you’ll need at least a 25% deposit. The best rates are always reserved for the highest deposits – if you offer a 40% deposit you’ll likely be offered the best deals.

 

Do You Pay Stamp Duty on Student Accommodation?

Yes, you will have to pay stamp duty on a student buy-to-let property. Stamp duty is charged at 3%, on top of your standard tax rates. However, you can benefit from a maximum 20% tax credit on your mortgage interest.

 

Where Can I Get a Mortgage for Student Lets?

Lending Expert proudly offers mortgages for student lets across the entire UK. This includes Brighton, Edinburgh, Glasgow, Liverpool, London, Manchester, and including others, Sheffield.

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