Your student loan DOES NOT appear on a credit file

When you borrow from a bank for a credit card, loan or mortgage, to evaluate whether they'll make money from you lenders look at three pieces of information – your application form, any previous dealings they've had with you and, crucially, the information on your credit reference files.


A lender will only know about a student loan if they ask about it on an application

So the only way loan, credit card or mortgage providers know if you've got a student loan is if they choose to ask on application forms. They can do this and it happens, but in general it's only for bigger value transactions such as mortgages


Can I get a mortgage with a high student debt?

In short the answer is YES. A bank will not count this as a typical debt (a car loan, outstanding credit card balance) BUT they will want to see that you can afford the mortgage based on you deducted student loan repayment. You could use a simple affordability calculator that most high street lenders provide online - this is only indicative of what they MIGHT lend you so do use with a degree of caution.

The responsibility of your parents and the student loan

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