The Student Room Group

Student finance and home ownership

Parents are looking to buy a property in my name by taking out a loan on their house. My house will be bought outright and I will let 2 rooms to friends. Any income from rent will be paid to my parents to cover the cost of the loan they have taken out.
Who declares the income from the rent? Me or my parents? I’m not keeping the money but paying back the loan from my parents.

Will the house in my name affect my fees grant/ student loan?

Who will the rental payment and contract be with? That’s who declares the income.

Whether it’s you or your parents rental income will be included in the household income assessment. If you would otherwise be eligible for the income assessed portion of the maintenance loan then this plan could be a poor investment.

It might be better to wait until you want to find somewhere to live as a graduate.

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