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).
Would this in any way affect my tuition or maintenance loan? I’m on my final year of studies.
Thank you.
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).
Would this in any way affect my tuition or maintenance loan? I’m on my final year of studies.
Thank you.
If you’re living in it - no
If you’re renting it out then it counts as “unearned income” and is added to your household income
If you’re renting it out then it counts as “unearned income” and is added to your household income
Original post by PQ
If you’re living in it - no
If you’re renting it out then it counts as “unearned income” and is added to your household income
If you’re renting it out then it counts as “unearned income” and is added to your household income
Thank you for the answer!!
To just double check with you, buying and living the house is no issue and will not affect my loan in anyway. Only if I put it up for rent do I have to declare it?
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