On a student’s income? Don’t make me laugh.

Actually, it’s not quite as crazy as it sounds. Some parents are in a financial position to guarantee a mortgage and, that way, not only does the student get the ultimate in independent living but, while interest rates are low, the mortgage payments may work out cheaper than rent.

Meanwhile, the student home-owner can now do the landlord thing and get a few other students in as housemates, charge them a going rent and maybe even wipe out their own contribution altogether. If they’re really lucky, the property’s value will go up and they can sell it when they move out, clearing their student debts with the tidy profit.

Sounds great, eh?

Unfortunately, it’s full of pitfalls. Even the process of buying a property can cost more than a year’s rent, and it’s a sackful of hassle too. Then there’s finding the readies for furniture.

And, once you own it, you can’t complain to the landlord when the boiler blows up or the roof collapses. You could have a situation where you can’t even live there yourself, let alone charge rent to anyone else, unless you find hundreds of quid to mend your plumbing.

Meanwhile, although being a live-in landlord isn’t as bad as just being in it for the money, there’s a bundle of red tape to deal with — contracts, safety and all the rest.

Finally, as they say in the small print, the value of your investment can go down as well as up.

Strictly for the wealthy or risk-junkies.

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