Will buying and owning a house affect my student finance?

Hello,

My parents have been looking to buy a house and put it under my name (without the need for a mortgage, so I wont be in any debt).
And so I heard from a friend that if I become a homeowner, I can no longer get any tuition and maintenance loans.

Thank you.

Hi, being a homeowner does not make you ineligible for funding. Your friend is incorrect.

We do need to know about any unearned income such as:

Bank or Building Society Gross Interest
Property Lettings or Rent
Dividends from investments/shares/unit trusts
Trusts or Sponsorships
Pensions
Payment from their employer who has released them to attend their course
Any other payment received for attending the course (This does not include University Bursaries)


So if you receive any property or rent income then you must declare this and this can affect your funding.
Thanks, Isaac

Thank you for your response!

Hello,I have a follow-up question on this one.

You say:
1) being a homeowner does not make you ineligible for funding
2) We do need to know about any unearned income such as: ... Property Lettings or Rent
3) if you receive any property or rent income then you must declare this and this can affect your funding

The 3 combined sound confusing to me. I am interested in tuition fees loan only (no maintenance).

Q1: so owning a property I am eligible for student loan (tuition fees) anyway?
Q2: if I own the property but DO NOT receive any income off it (no rent, no selling etc) - do I need to declare the ownership? Does it affect funding?

Thank you!

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