GOGSoc Episode VI: The GoG, the Bad and the Ugly

We have a buyer for our boat! The lady who came to look before Christmas fell in love with it and has offered (my somewhat optimistic!) full asking price. :biggrin:

She still needs to get her finances sorted though - she's on a fully funded studentship and only needs to borrow £10-15k to make up the full cost of the boat but is worried she won't get a loan/marine mortgage whilst on a studentship. Anyone got any experiences of getting loans/mortgages whilst on studentships?

Reply 382

Original post by scarlet ibis

We have a buyer for our boat! The lady who came to look before Christmas fell in love with it and has offered (my somewhat optimistic!) full asking price. :biggrin:

She still needs to get her finances sorted though - she's on a fully funded studentship and only needs to borrow £10-15k to make up the full cost of the boat but is worried she won't get a loan/marine mortgage whilst on a studentship. Anyone got any experiences of getting loans/mortgages whilst on studentships?

Congratulations! What is her PhD on? I have to say, I can't imagine making such a big financial commitment while on a PhD :s-smilie:

Original post by aeterno

Take over my seminars pleeeeeease! :biggrin:

I like structure in seminars too but it appears most academics don't (or none of my seminar tutors have :colonhash:

)

You mean seminars you're attending? Heheh, thanks. Hopefully the students feel that way too.

Reply 383

flying plum

14

Craggy - the problem I generally have with my students is that they do the reading, but don't think about the issues, and just hope the answers will materialise in the tutorial. I've found a good way to reduce the amount I speak, and to make Them think is to ask them each to prepare an answer to one of the tutorial questions. It focuss their reading and makes for a more focused tutorial discussion.

Reply 384

Original post by flying plum

Craggy - the problem I generally have with my students is that they do the reading, but don't think about the issues, and just hope the answers will materialise in the tutorial. I've found a good way to reduce the amount I speak, and to make Them think is to ask them each to prepare an answer to one of the tutorial questions. It focuss their reading and makes for a more focused tutorial discussion.

Yes I'm planning on bringing that in later.

Reply 385

flying plum

14

Good luck!

Scarlet - I got a mortgage, but was quite lucky I think. Most banks wouldn't accept my stipend as income. Natwest told me that it was for my education, and shouldn't be using it to pay for a mortage repay,ends. God knows what they think I should spend £13000 a year on for my education. That there be a lot of books.

I got a mortgage from RBS - nos from Natwest, HSBC and lloyds. I think it depends on the mortgage adviser, and the underwriter. I think rbs were more flexible as I've banked with them forever, so they had 10 years of bank statements.

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Original post by Craghyrax

Congratulations! What is her PhD on? I have to say, I can't imagine making such a big financial commitment while on a PhD :s-smilie:

I'm not sure what subject to be honest! She only just mentioned it in an email. It's not as big a financial commitment as, say, rent! Paying back £300/month on a mortgage/loan would be cheaper than renting a room in Cambridge..

Original post by flying plum

Good luck!

Scarlet - I got a mortgage, but was quite lucky I think. Most banks wouldn't accept my stipend as income. Natwest told me that it was for my education, and shouldn't be using it to pay for a mortage repay,ends. God knows what they think I should spend £13000 a year on for my education. That there be a lot of books.

I got a mortgage from RBS - nos from Natwest, HSBC and lloyds. I think it depends on the mortgage adviser, and the underwriter. I think rbs were more flexible as I've banked with them forever, so they had 10 years of bank statements.

Thanks. I've also suggested she try zopa.com which is some kind of social lending thing which cuts out the banks, People lend money at a very good return on their investment and it's spread out between borrowers, without going through a bank.

She'd only be borrowing a very small amount compared to a house mortgage and would be able to pay it back during the three years she's doing the PhD, plus they have the security of the boat against the loan, so maybe they'll allow it.

(edited 11 years ago)

Reply 387

aeterno

15

Original post by Craghyrax

You mean seminars you're attending? Heheh, thanks. Hopefully the students feel that way too.

Yep, that's what I meant :yep:

(I can't recall if you've mentioned this already but) are you teaching undergraduates or postgraduates?

Reply 388

Original post by scarlet ibis

I'm not sure what subject to be honest! She only just mentioned it in an email. It's not as big a financial commitment as, say, rent! Paying back £300/month on a mortgage/loan would be cheaper than renting a room in Cambridge..

If she can actually pay off the full price of the boat with her stipend, then fine. But if she can't then its not like rent, because you don't usually sign a contract for anything more than a year at a time.

Original post by aeterno

Yep, that's what I meant :yep:

(I can't recall if you've mentioned this already but) are you teaching undergraduates or postgraduates?

First year undergrads.

Reply 389

Original post by Craghyrax

If she can actually pay off the full price of the boat with her stipend, then fine. But if she can't then its not like rent, because you don't usually sign a contract for anything more than a year at a time.

Yes, she already has most of the cost of the boat from some money inherited, she just needs the rest from a loan and would be able to pay it all off over the three years.

And even through rental contracts only last a year, she would still have to live *somewhere* for the three years.

Reply 390

Feefifofum

16

Original post by scarlet ibis

x

Someone I know has just got a mortgage. She and her boyfriend are both funded PhD students and they found it tough to find a lender, but RBS have given them one. From what flying plum said as well it sounds like they might be the best bet...

Reply 391

Original post by Feefifofum

Someone I know has just got a mortgage. She and her boyfriend are both funded PhD students and they found it tough to find a lender, but RBS have given them one. From what flying plum said as well it sounds like they might be the best bet...

She's applying to RoyScot Larch who are the only marine mortgage lenders left now. And they are underwritten by RBS :smile:

so fingers crossed!

Reply 392

The idea of buying a home freaks me out.

Reply 393

Original post by Craghyrax

The idea of buying a home freaks me out.

The idea of buying a house freaks me out too. Apparently the average age of first time buyers is now 35! :eek:

Reply 394

aeterno

15

Original post by Craghyrax

First year undergrads.

Brave!

Reply 395

Original post by aeterno

Brave!

How so? I assume that academics give them to PhDs because its the most basic teaching and presumably the most boring.

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Kitty Pimms

Original post by Craghyrax

How so? I assume that academics give them to PhDs because its the most basic teaching and presumably the most boring.

I also used to find it the easiest since they're usually quite keen and easy to mold (and they are usually pretty respectful). Second years I find trickiest because the gulf in ability and maturity becomes very clear, and they're usually wise to the tricks of how little work they can get away with by then. I was always quite pleasantly surprised by how good first year work can be, and for the majority they don't make much progress in second year and then panic in final year.

Reply 397

aeterno

15

Original post by Craghyrax

How so? I assume that academics give them to PhDs because its the most basic teaching and presumably the most boring.

Hm, probably my own experiences then i.e. when I was in first year, fellow students were a difficult bunch but they became far more keen as they progressed throughout the degree. First year seminars consisted of silence for the most part - even when the tutor was asking simple questions just to get people talking.

Reply 398

Original post by IlexAquifolium

I also used to find it the easiest since they're usually quite keen and easy to mold (and they are usually pretty respectful). Second years I find trickiest because the gulf in ability and maturity becomes very clear, and they're usually wise to the tricks of how little work they can get away with by then. I was always quite pleasantly surprised by how good first year work can be, and for the majority they don't make much progress in second year and then panic in final year.

Interesting. Personally I only 'arrived' academically in second year. Also I would expect second years to be more dedicated because they don't have the whole 'first year doesn't count' mentality any longer.

Original post by aeterno

Hm, probably my own experiences then i.e. when I was in first year, fellow students were a difficult bunch but they became far more keen as they progressed throughout the degree. First year seminars consisted of silence for the most part - even when the tutor was asking simple questions just to get people talking.

All more reasons the academics would want to fob them off on us :p:

I don't know how it works elsewhere, but we don't get much choice over what we teach. PhD students nominate themselves for things they'd be willing to teach, but then it gets allocated based on where they're most needed. So I put myself down for four possible modules, and this was what I got. I don't mind. At least the topic I'm teaching is one that I'd like to learn more about, so I feel like its contributing towards my PhD.

Reply 399