MAJORITY OF STUDENTS STRUGGLE TO PAY THEIR RENT EACH MONTH
- 75% of pupil renters on the College of Aberdeen and Birmingham’s Newman College say they wrestle to afford their lodging
- Regardless of college students at Staffordshire College paying the least hire (on common £350 per 30 days), nearly three quarters discover it troublesome to pay
- Greater than half of College of Sheffield pupil renters wrestle with the price of hire
- Affordability is the third greatest precedence for college students on the lookout for a house, after being shut to college and safety
- Kellie Steed, Uswitch.com purchase to let mortgage skilled, feedback on how college students can save when transferring into a brand new dwelling.
Three in 4 (74%) college college students wrestle with their month-to-month hire repayments within the final 12 months[1], because the UK’s value of residing disaster continues.
To help landlords who might have college students battling their payments, Uswitch purchase to let mortgage consultants analysed prices throughout the nation to seek out which college students are paying the most cost effective weekly hire, in addition to what number of had been discovering paying hire troublesome, to calculate probably the most and least inexpensive universities within the nation.
Be aware to editors: When you use any of the information inside this launch, we kindly ask that you simply present a hyperlink to Uswitch.com’s purchase to let mortgage web page (https://www.uswitch.com/mortgages/buy-to-let/) as credit score.
Most inexpensive universities
| College | Metropolis | Area | % of scholars battling hire[2] | Common weekly hire (£) |
| The College of Sheffield | Sheffield | Yorkshire | 58% | £100 |
| The College of Huddersfield | Huddersfield | Yorkshire | 68% | £81 |
| The College of Nottingham | Nottingham | Midlands | 62% | £113 |
| The College of Leicester | Leicestershire | Midlands | 66% | £113 |
| The College of Northampton | Northampton | Midlands | 66% | £113 |
| Nottingham Trent College | Nottingham | Midlands | 62% | £116 |
| The College of Surrey | Guildford | South East | 68% | £114 |
| Harper Adams College | Newport | Wales | 69% | £98 |
| Oxford Brookes College | Oxford | South East | 68% | £115 |
| College of Derby | Derby | Midlands | 66% | £123 |
Universities within the Midlands are probably the most inexpensive areas for pupil renters. With 5 of probably the most inexpensive universities to hire within the UK, the Midlands can also be dwelling to the most cost effective common weekly hire of simply £80, at Staffordshire College.
Universities in Yorkshire and the South East of England comply with in second place for affordability, whereas only one college exterior of England, Harper Adams College, makes probably the most inexpensive checklist.
Renters in Sheffield wrestle the least to fulfill their £100 every week common hire. Regardless of being the most cost effective analysed, 72% college students in Staffordshire say they’ve discovered paying their hire (£80 per week) troublesome over the previous 12 months.
Regardless of the challenges of rental funds, only one in ten (12%) college attendees choose affordability as the very first thing they think about in a property. General, affordability is barely the third best precedence (12%) for college students looking for a brand new dwelling, after proximity to their college (27%) and safety (16%).
Least Inexpensive Universities
| College | Metropolis | Area | % of scholars battling hire[2] | Common weekly hire (£) |
| The College of Greenwich | London | Larger London | 78% | £238 |
| College of Cumbria | Carlisle | North West | 80% | £172 |
| London College of Economics and Political Science | London | Larger London | 78% | £200 |
| Edge Hill College | Ormskirk | North West | 80% | £166 |
| Imperial Faculty of Science, Expertise and Drugs | London | Larger London | 78% | £190 |
| The College of Cambridge | Cambridge | East of England | 83% | £156 |
| Glasgow Caledonian College | Glasgow | Scotland | 77% | £196 |
| College of Chester | Chester | North West | 80% | £164 |
| The College of Edinburgh | Edinburgh | Scotland | 76% | £222 |
| St Mary’s College, Twickenham | Twickenham | Larger London | 78% | £185 |
Larger London’s universities are the most costly nationwide, with 4 of the least inexpensive universities on this area. Larger London is dwelling to Greenwich College, the most costly space analysed, at £238 per week: greater than double the price of hire for College of Sheffield college students.
Three of the most costly universities may be discovered within the North West. 4 in 5 college students attending universities on this area have difficulties paying for hire. Scotland can also be dwelling to 2 of the least inexpensive universities, with the College of Edinburgh main as the most costly college for hire in Scotland, and the second most costly in Nice Britain.
Uswitch.com purchase to let mortgage skilled, Kellie Steed, feedback on how landlords will help their pupil tenants:
“As a pupil landlord, it’s possible that your property will provide the primary ever renting expertise that your tenants may have. Due to this, transparency, reliability and understanding are all vital to giving your tenants one of the best expertise of their new dwelling.
- Be clear with expectations: be upfront with all the principles you count on your tenants to comply with, whether or not they’re about timing for hire funds or the situation your property ought to be stored in. You also needs to be clear about what your tenants can count on from you, similar to protecting their deposits in a safety scheme, and what upkeep you’ll present for the property.
- Be constantly dependable: in case your tenant has questions, or wants something from you, be certain that to be responsive and clear about what you possibly can and might’t do. They are going to possible have some uncertainties round a brand new dwelling, so even once they come to you for one thing exterior your tasks, stay courteous and information them by way of the answer as greatest you possibly can.
- Be understanding: college students are already more likely to be tight on money, particularly throughout a price of residing disaster. In the event that they do come to you with monetary issues, be certain that to pay attention whereas speaking your individual wants, to assist come to a decision which each events may be proud of.
- Recommend options: in addition to probably inexperienced as tenants, college students could also be unfamiliar with some strategies of protecting different prices low. Clarify how your tenants may probably revenue from taking over a pupil broadband deal, or if that switching vitality suppliers may provide decrease month-to-month funds. Financial savings may come by utilising promotions by way of TOTUM playing cards, and double-checking that they don’t seem to be paying council tax, as college students are exempt.”
“Uswitch may reveal probably the most worthwhile ‘facet hustles’ for college students who’ve time to take up part-time employment. For tenants on the lookout for distant work, tutors, voice-over artists and video editors have the best common wage. If college students would slightly work in particular person, tutoring, life-guarding, or driving for a taxi service like Uber provide the best common income.”
Discover out extra within the full Uswitch.com buy-to-let mortgage statistics.
