By virtue of the Housing Act 1996, any new tenancy created on or after 28 February 1997 will automatically be an Assured Shorthold Tenancy (unless it is a continuation of an existing assured tenancy, or the landlord has served notice that it will be an assured tenancy or there is a clause in the tenancy agreement stating the tenancy will be assured.) An Assured Shorthold Tenancy makes it easier for the landlord to rent property for a limited time and with a guarantee of repossession at the end of each tenancy. However, provided your contract will last as long as you want, in most cases until the end of an academic year, then for most students this is not a problem.
Landlords can still create assured tenancies but it is unlikely that many will as an assured tenancy places the tenant in a stronger position than an Assured Shorthold Tenancy. Assured tenants will find it easier to stay in the property once their original agreement lapses. With an Assured Shorthold Tenancy the tenant has no right to stay in the property at the end of the tenancy.
Rents for assured and Assured Shorthold Tenancies are both set at 'market' levels. During the first six months of an Assured Shorthold Tenancy the tenants can refer the rent to a Rent Assessment Committee for determination. However, the Rent Assessment Committee may not decide that the rent is significantly higher than other Assured Shorthold rents in the area. An assured tenant may only refer the rent to the Rent Assessment Committee where the landlord is seeking to increase an already agreed rent.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Mortgage Talk's typical fee for arranging your mortgage is £199, however depending on your circumstances, a fee of up to 1.5% of the mortgage amount may be charged.