Question for mortgage broker please. Anyone know if research grant funding paid as an annual tax free stipend can be taken into account when calculating mortgage eligibility?
As someone who works in research and just got a mortgage I can tell you that you will have to give more information than above as they will probably have no clue what you mean by an annual tax free stipend. Are you a PhD student or a post-doc?
A lot will depend on the merits of the application. Relevant issues will be: -
Duration and source of funding.
Qualifications of the individual and employment prospects once the research is complete. A medical doctor taking time out for a funded research project will be treated more favourably than someone operating in an obscure field of science.
Strength of the application overall - is there another income, is the individual seeking to borrow to their upper limit, savings record, credit history etc.
In short, it's possible but an application should be backed up by plenty of background information.
Question for mortgage broker please. Anyone know if research grant funding paid as an annual tax free stipend can be taken into account when calculating mortgage eligibility?
Hi, when we applied for our mortgage my gf was completing her phd. We managed to get a letter from her supervisor stating what she was earning from her grant (approx 13k) and we also included earnings from tutorial lessons she gave (approx 7k). The bank took into account the 20k as her salary.