Obtaining a mortgage loan to buy a flat or build a house is not an easy matter, even for those who earn quite a high income. Young people in a particularly difficult situation are those who, illustrating themselves, have not achieved anything yet, do not have a stable professional situation, and their credit history is very modest or nonexistent. However, this does not mean that the student may forget to receive a mortgage. Everything depends on the specific case.
Are you studying? For the bank, this is of secondary importance
It is immediately worth refuting the often repeated myth: the bank is not interested in whether the customer is a student. Any adult who is creditworthy can obtain a mortgage under certain conditions. Nor does it matter whether you are studying daily or extramurally. At most, study fees can affect your credit rating.
The basic condition you will be given by the bank will be a confirmation of your regular income. The best situation is for people with contracts of employment, slightly worse for those working under civil law contracts or running their own business.
If you study but work by the way and you have a constant, quite high income, then you have the best chance of getting a mortgage. The advantage of students is also that they usually do not have children yet, and therefore also the costs associated with bringing them up.
A student without income or credit worthiness? There will be a problem
By far the worst case scenario is that of those students who focus solely on their studies, do not work and therefore do not earn an income. In their case, there is no question of any bank granting a mortgage, because such a person will simply have no money to pay for the instalments.
The only rescue is to take out a mortgage loan together with e.g. a parent or a spouse. This should solve the problem of lack of creditworthiness. It should be remembered that the obligation to repay the credit will be spread over two persons. If in the following years the student still does not earn income enabling him/her to pay loan installments, then the person who signed the agreement together with him/her will have problems.
To sum up, a student mortgage is as possible possible, but everything depends on the applicant’s creditworthiness. In reality, however, it is worth withholding such a long commitment until your professional situation has stabilised. The period of study is not a good time to get into debt.