Fox Davidson work with clients across the UK that are in receipt of stipend or bursary income. We were the first UK mortgage broker to recognise that people in receipt of stipend or bursary income were not getting a good deal from the main high street banks. If you want to learn more about clergy stipend income for a mortgage or perhaps you are a graduate/student; stipend mortgage applications don’t need to be overwhelming. We can help.

What is stipend income?

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Stipend income is a fixed amount of money paid to an individual to cover expenses whilst studying.


Can you use stipend income for mortgage purposes?

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Stipend income (also known as bursary income) is an acceptable form of income for mortgage purposes, despite what you may have been led to believe. Stipend income and bursary income mortgages for clergy and PHD students can be easily accessed – we have researched over 100 mortgage lenders to ensure that we have the most comprehensive list around. We are experts in finding mortgage lenders that will lend to clients receiving stipend and bursary income.

If you have at least a 5% deposit and are in receipt of stipend or bursary income, then we can look at your situation and advise you of the amount you can borrow. It will help if you have an additional income either personally or with a second applicant.


Stipend income mortgage criteria

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  • Lending is possible to a single applicant although some lenders would require a second applicant with an income to be on the mortgage.
  • Length of time the stipend has been received is important; some lenders will lend using a new stipend contract, others will need it to have already started.
  • Your profession – some lenders will only lend to professionals.
  • Future employment – we need to evidence proof of future employment although this is not usually requested.
  • You should not be heavily indebted and should have a clean credit record.

To answer some of your questions

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Can you get a mortgage whilst doing a PHD?
It is possible to secure a mortgage whilst studying for PHD. You can use your stipend income for mortgage affordability purposes.

Can a graduate student get a mortgage?
Graduate students in receipt of income can get a mortgage in the UK. Income from an offer of employment up to 6 months in advance of the start date can be accepted. So contrary to what you may have been told, graduate/student stipend mortgages do exist.

Can I get a buy to let mortgage on a stipend income?
Buy to let lenders will lend to clients with a stipend income but you would need to be an existing buy to let landlord.

I am a member of the clergy receiving stipend, can I get a mortgage?
Clergy stipend income is an acceptable form of income for mortgage purpose and mortgages for clergy on a stipend income are readily available.


As an independent mortgage broker, we have access to the whole of the market so wherever you are located or are looking to buy, we can help. To discuss your clergy stipend income for a mortgage application or to find out more about graduate/student stipend mortgages, call or email an adviser today.