We have found a wonderful product supplied by Bath Building Society for parents who want to help their children get on the property ladder while they’re at university.
The ‘Buy For Uni Mortgage Scheme’ allows parents of students at university to buy a property in their child’s name. The scheme requires the property to be let to other university students who pay rent during their stay. The combined rental income must be equal or greater than the monthly repayment required for the mortgage.
We think this is a fabulous idea as accommodation costs during university can be huge and this allows families to utilise that expense in a more effective way.