With many families exploring the costs of university life, some parents are looking beyond renting and considering longer-term housing solutions. Here’s an example of the type of customer our >95% LTV JBSP proposition could support.

Customer 

• Sarah, an 18-year-old student preparing to start university
• Accepted onto a degree course with strong future earning potential
• Looking to purchase a property close to their university rather than rent accommodation
• No deposit available and no current income to support mortgage affordability

 Scenario 

• Parents want to support their daughter’s purchase while she completes her studies
• Both parents are homeowners and have a combined income of £85,000
• Property purchase price £250,000

 Solution 

• Up to 100% LTV available with no minimum deposit requirement
• Affordability assessed using the parents’ income as supporting borrowers
• Property owned solely by the student under a Joint Borrower Sole Proprietor arrangement
• Capital repayment mortgage, reducing the balance over time
• Provides a potential route to home ownership while the student completes their studies and establishes their career

All applications are subject to underwriting, lending criteria and affordability assessment. For full details, please refer to our Mortgage Lending Criteria Guide and Product Guides.

Got a case to discuss?

Get in touch with your local BDM; they would love to hear from you. Find your BDM here. Or call our Broker helpdesk on 020 3427 1019. Metro Bank won’t charge you for your calls, however you may be charged by your service provider.