Buying your first home is a huge milestone—and if you’ve got a student loan, we know you might be wondering how that fits into the picture. Don’t worry, having a student loan doesn’t mean you can’t get a mortgage. It just means there are a few more things to think about.
At Mortgage Bridge, we work with loads of first-time buyers (many with student loans or even less-than-perfect credit), so we get these questions all the time. Let’s break it all down for you in a straightforward way.
What Do Lenders Actually Look At If I’ve Got a Student Loan?
When you’re applying for a mortgage, lenders aren’t just looking at one thing—they’re trying to figure out if you can afford the repayments without getting into financial trouble.
They’ll usually check:
- Your income (salary, bonuses, freelance gigs—whatever’s regular)
- Your credit history (how well you’ve managed money in the past)
- Your outgoings (bills, rent, car finance, other loans—and yep, your student loan)
- How much deposit you’ve saved
The big thing here is something called your debt-to-income ratio. That’s just a fancy way of saying how much of your monthly income is already going toward debts. Ideally, this should be under 40%.
So… How Do Lenders Treat Student Loans?
Student loans are a bit different from other types of debt. They usually don’t show up on your credit file the same way, but lenders still factor in your repayments because that’s money you’re not able to put toward a mortgage.
Lenders might:
- Ask for proof of your repayment plan
- Check your payslips to see what’s being deducted
- Include your student loan when testing whether you could still afford the mortgage if interest rates rise
So while it’s not seen like a credit card or personal loan, your student loan still matters when it comes to what you can borrow.
Will My Student Loan Stop Me Getting a Good Mortgage Deal?
Not necessarily, but it might reduce how much you can borrow. Think about it this way: if £200 of your income each month is going toward your student loan, that’s £200 less to put toward your mortgage.
That said, because student loan repayments are usually quite low compared to other debts, the impact might be smaller than you expect.
Will My Student Loan Affect My Credit Score?
Here’s the good news: student loans don’t show up on your credit file in the same way as other borrowing. That means they won’t directly hurt your credit score.
But—and it’s an important but—they still reduce your take-home pay, which affects your affordability in the eyes of lenders.
What Can I Do to Improve My Chances of Getting Approved?
We’re glad you asked. There are loads of things you can do to put yourself in the best possible position.
1. Can Saving a Bigger Deposit Make a Difference?
Absolutely. A bigger deposit means you’re borrowing less, which lenders love. It also opens up better interest rates in many cases.
2. Should I Clear Other Debts First?
Yes, if you can. Reducing things like credit card balances or personal loans improves your debt-to-income ratio and makes you more attractive to lenders.
3. What If I Try to Boost My Income?
That’s a great idea. Whether you go for a pay rise, pick up overtime, or start a side hustle—more income helps you borrow more.
4. Is My Credit Report a Big Deal?
Yes, it’s worth keeping an eye on. Even though student loans don’t impact it directly, things like missed payments on other accounts do. Make sure everything’s up to date and accurate.
5. Why Work With a Mortgage Advisor Like Us?
Because we know which lenders are more flexible when it comes to student loans and bad credit. We help package your application in the best light and give you access to deals you won’t find just Googling around.
What If I’ve Got a Student Loan and Bad Credit?
Don’t panic. This combo is more common than you think, and we’ve helped loads of people in the same boat.
Some lenders specialise in working with buyers who’ve had credit issues. They’ll look at things like:
- How recent and serious your credit blips were
- How stable your income is now
- How well you’ve managed money recently
- How much deposit you’ve saved
We’ll be honest with you—getting a mortgage might be a bit trickier, but it’s definitely not impossible.
What Info Do I Need to Apply?
Here’s what most lenders will want to see:
- Proof of ID and where you live
- Three months’ worth of payslips
- Three months of bank statements
- Evidence of your student loan payments (usually on your payslip)
- A copy of your credit report (if you’ve got one handy—it helps us help you faster)
Will High Interest Rates Make It Harder to Get a Mortgage?
They can, yes. Lenders will stress-test your finances to see if you could still afford the mortgage if rates go up.
That’s why it’s more important than ever to keep other debts low and show that you’ve got a buffer in your budget.
Should I Wait Until My Student Loan’s Paid Off?
In most cases—nope. Student loans can last decades, and many people never fully repay them before they’re written off. As long as you can afford the repayments and pass lender checks, there’s no need to wait.
Getting on the property ladder sooner often means building equity earlier—and that can be a smart long-term move.
So, Can You Actually Get a Mortgage with a Student Loan?
Yes. 100% yes.
Having a student loan doesn’t mean you can’t buy your first home. It just means we need to take a closer look at your finances and put together the strongest possible application.
Here at Mortgage Bridge, we specialise in helping people just like you—whether you’ve got student debt, a few credit hiccups, or just no idea where to start. We’ll guide you through the whole process, recommend the right lenders, and fight your corner every step of the way.
Ready to see what’s possible? Drop us a message—we’re here to help.