Mortgage while studying - Student finance

Any advice regarding this issue will be greatly appreciated.

My girlfriend and I are both currently living with our parents. I am working full time, but my girlfriend will be starting university in the next couple of weeks.

She is 21 years of age, and classed as a dependent student as she lives with her parents and hasn't supported herself for 3 years prior to this academic year. (Rather than an independent student.)

She has applied and had her student finance accepted, on the basis of living away from her parents while studying, and will be renting a place near her uni.

My question is, at some point over the next year, I am planning to be getting a mortgage for a house, and hope that she will move in with me at this point. I'm just wondering if this will affect the amount of money she will be entitled to from student finance?

I have done a little research, and the way I see how it works is, that because she's a dependent student, her fiances are based solely on her parents income, and therefor shouldn't be affected. - But I'm just not sure if there is some kind of "must be renting an house/flat from a certified organization" or "money must not be going towards a mortgage" clause somewhere that I've missed.

Again, any help regarding this will be greatly appreciated.

Thank you.

Reply 1

balotelli12

9

She will be assessed off her parents
Unless
You get married

Reply 2

Klix88

17

Original post by Slimeylimey

Any advice regarding this issue will be greatly appreciated.

My girlfriend and I are both currently living with our parents. I am working full time, but my girlfriend will be starting university in the next couple of weeks.

She is 21 years of age, and classed as a dependent student as she lives with her parents and hasn't supported herself for 3 years prior to this academic year. (Rather than an independent student.)

She has applied and had her student finance accepted, on the basis of living away from her parents while studying, and will be renting a place near her uni.

My question is, at some point over the next year, I am planning to be getting a mortgage for a house, and hope that she will move in with me at this point. I'm just wondering if this will affect the amount of money she will be entitled to from student finance?

I have done a little research, and the way I see how it works is, that because she's a dependent student, her fiances are based solely on her parents income, and therefor shouldn't be affected. - But I'm just not sure if there is some kind of "must be renting an house/flat from a certified organization" or "money must not be going towards a mortgage" clause somewhere that I've missed.

Again, any help regarding this will be greatly appreciated.

Thank you.

As balotelli confirms, your girlfriend is under 25 so she will be assessed on her parents' income even if she moves in with you. As she will be renting separately near the uni, she will be assessed for Student Finance as "living away from home" for uni, whether she lives with her parents or you out of term time.

Once she has her Student Finance money, she can spend it on whatever she likes. There is no mandating the type of accommodation she has to spend it on. However you should be aware that SF often doesn't even cover the costs of student accommodation rent. If you think she'll be able to afford to pay rent on a place at uni and also contribute to your mortgage payments, you will probably be disappointed.

SF is designed to *contribute* to the costs of going to uni, and not to cover all of them. Parents are expected to contribute the balance of the required money and many students have to get part-time work. If your girlfriend moves in with you, you may find yourself being expected to help her financially if she leaves her family home. I would suggest that you both need to sit down with her parents and understand whether they're willing to continue supporting her through uni.

(edited 9 years ago)

Reply 3

Slimeylimey

OP

Thanks for the advices :smile:

I wouldn't expect her to pay towards thr mortgage, as I esrn enough to be able to cover that. I just didnt want her moving in with me ti affect her financially. Thinking about it when this happens she will be better off because she won't need to oay rent on student accomodation (I will be buying a place near her university) and will still be eligible for the full amount as she'll be assessed as "living away from home" and on her parents income. Right?

Thanks again for confirming everything.

Reply 4

Klix88

17

Original post by Slimeylimey

Thanks for the advices :smile:

I wouldn't expect her to pay towards thr mortgage, as I esrn enough to be able to cover that. I just didnt want her moving in with me ti affect her financially. Thinking about it when this happens she will be better off because she won't need to oay rent on student accomodation (I will be buying a place near her university) and will still be eligible for the full amount as she'll be assessed as "living away from home" and on her parents income. Right?

Thanks again for confirming everything.

Oh sorry, I misunderstood. Your thread title and first post make it sound like some of her SF would be going towards a mortgage.

If she lives with you during *and* outside term-time, that's different to her renting somewhere near uni for herself, as you said in your first post. Your home then becomes her permanent home, so I think SF will assess her as "living at home" and give her less. However if she won't be paying rent or mortgage at all as per your second post, this should more than compensate for the loss of some SF.

"Household income" will still be that of her parents due to her age and single status.

Reply 5

Slimeylimey

OP

But student finance dont ask where youre living outside of term time, so they wouldnt even know that. The pn1 form tick box says where are you living in each term, and its either "with parents" or "elsewhere or on own" so I dont think they could assess her as living at home since shes not a mature student and therefor her "at home" is with her parents regardless.

Unless im missing something?

(edited 9 years ago)

Reply 6

Tiger Rag

22

Original post by Slimeylimey

But student finance dont ask where youre living outside of term time, so they wouldnt even know that. The pn1 form tick box says where are you living in each term, and its either "with parents" or "elsewhere or on own" so I dont think they could assess her as living at home since shes not a mature student and therefor her "at home" is with her parents regardless.

Unless im missing something?

You're thinking of two different things I think:
- she's assessed on her parents income because she's not 25 or classed as independent
- because she lives away from home, she'll get more loan for living away from home

Reply 7

Klix88

17

Original post by Slimeylimey

But student finance dont ask where youre living outside of term time, so they wouldnt even know that. The pn1 form tick box says where are you living in each term, and its either "with parents" or "elsewhere or on own" so I dont think they could assess her as living at home since shes not a mature student and therefor her "at home" is with her parents regardless.

Unless im missing something?

Not quite sure where the issue lies then.

Page 5 of the online Form PN1 asks for both "Home address" and "Term-time address", so they will know that your girlfriend lives at the same address all year round. I can't see a tick box which asks whether she's living with parents or otherwise, but it will be clear from her parents' submission that she's not living with them.

I can't find anything which explains how SF interpret "living at home" for someone under 25 when they're not living with their parents.

http://www.sfengland.slc.co.uk/media/682892/sfe_pn1_form_1415_d.pdf

When in doubt, phone SF and ask.

Mortgage while studying - Student finance

Quick Reply

Related discussions

Latest

Trending

Trending

Articles for you