Student mortgage product launched

A new product has been launched which will allow students to purchase the property they live in while at university.

Capital Fortune is offering students the opportunity to buy a property and then charge their fellow housemates rent.

The idea is that the rental income covers the mortgage and the firm said that it is opening up an avenue for first-time buyers to make it onto the property ladder.

"Students are facing ever-increasing difficulty in securing affordable, good quality housing and rental costs in student towns are spiralling," said Rob Killeen, managing director of Capital Fortune and former NUS president at Lancaster University.

"Our products will allow students to purchase their own property and provide appropriate and comfortable accommodation to their fellow house sharers.

"It is the ideal way to get a first foot onto the property ladder and we are proud to be supporting the scheme," he continued.

The offer is set tobe rolled out nationally and is likely to prove popular among students.

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