Influencer & Content Creator Mortgages

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mortgages for influencers, Influencer & Content Creator Mortgages, Montgomery Financial

Mortgages for Influencers & Content Creators with Charles Breen. 

Individuals producing content, similar to many who are self-employed, often face difficulties securing conventional mortgages due to their inconsistent earnings, absence of formal employment documentation, and substantial personal and business expenditures that minimize their taxable income.
Nevertheless, at The Protection Parent, we recognize that this is a rapidly expanding sector with significant financial potential that should not be overlooked. We are committed to assisting and supporting you in discovering specific lenders who better comprehend your situation as a content creator, ensuring you obtain the mortgage you deserve without added hassle.

Can I get a mortgage as an influencer?

Absolutely, securing a mortgage as an influencer is indeed feasible. Income derived from social media platforms, endorsement deals, marketing efforts, and sponsorship agreements are all recognized as legitimate sources of income for mortgage assessments. The main obstacles typically involve the stability of this income and the ability to substantiate it. However, as long as you can properly document your earnings, you will definitely have mortgage options available to you. It’s important to understand how much you can borrow based on your documented income.

What are the challenges of securing mortgages for influencers?

Obtaining a mortgage as an influencer can present numerous obstacles, but seeking professional advice can be beneficial. Here are a few typical ones you need to consider when you’re looking for a mortgage:

Income Stability: Influencer revenue can fluctuate, relying on brand partnerships, sponsored posts, and audience engagement, which can complicate the mortgage process. Lenders generally favour consistent and dependable income sources when applying for a mortgage, making it tough to demonstrate steady and trustworthy earnings.

Proof of Income and Documentation: Influencers might struggle to produce conventional income documentation, like pay slips or employment agreements. Lenders frequently demand comprehensive documentation and income verification, necessitating that influencers find other methods to validate their earnings.

Self-Employment Status: Numerous influencers function as self-employed individuals or manage their own enterprises. This situation can introduce extra challenges, as Lenders may closely examine the financial stability, sustainability, and future potential of the influencer’s business.

Financial History: Lenders evaluate the creditworthiness of Mortgage candidates by reviewing their financial history, which includes credit scores, debts, and overall financial stability. Influencers with shorter professional spans or inconsistent income streams may struggle to build a robust financial history.

Mortgage Affordability: Influencers frequently encounter issues regarding mortgage affordability, especially if their earnings are not as steady or foreseeable as those from conventional employment. Lenders determine the applicant’s capacity to make monthly mortgage payments by considering their income level and existing debt.

Are there specialist mortgages for influencers?

Although the term ‘influencer mortgages’ doesn’t officially exist, numerous lenders are open to considering self-employed applicants. If you’re looking for a mortgage, providing various income proofs will be required. They simply evaluate mortgage affordability in a unique way, which may involve additional steps.
Certain mortgage providers are more inclined to offer mortgages to influencers than others, so identifying the right ones to contact is crucial. This is where partnering with a broker such as Montgomery Financial can be particularly advantageous.

Speak To an Expert
We want to keep that relationship with you up until your mortgage completes in 20, 25 or maybe 35 years. It’s not just a one-off transaction. It’s a long-term relationship, where we watch the market to get you the most positive products out there and try to save you money.

What income streams do mortgage lenders prefer for influencer mortgages?

Although influencers’ income sources might be unorthodox compared to those of traditional employees, mortgage lenders still take into account the diverse revenue streams generated through social media activities.

This includes earnings from advertisements, brand alliances, sponsorship deals, affiliate sales, public appearances, and selling goods or services—all considered as part of various income sources. The key factor isn’t the type of income, but rather the ability to show a solid trading history and proof of ongoing and future collaborations.
Keeping detailed and accurate financial records can further improve your chances of mortgage approval, so it’s crucial to manage your business accounts meticulously. Lenders typically require proof and documentation of your earnings to assess their reliability and sustainability.
Importance of Credit History

Demonstrating and preserving a strong credit score is vital for obtaining a mortgage with advantageous conditions, which can significantly affect your interest rates. YouTubers, content creators and influencers ought to frequently check their credit report to confirm it is correct and current. Content creators may enhance their credit score by:
Paying all credit accounts on time
Maintaining a low credit utilisation (usage of credit) is crucial when looking for a mortgage.
Challenging any errors with the different credit bureaus if discrepancies are found.
If you would like access to a multi-agency credit file from Checkmyfile, click here.

What documentation do you need to apply for influencer mortgages?

When you apply for an influencer mortgage or any kind of mortgage as a self-employed person, lenders generally need certain documents to evaluate your financial status and eligibility. Here are the typical documents that may be requested:

Proof of Identity and Address: You must present proof of identity, such as a valid passport or driver’s license, along with proof of your address, such as utility bills or bank statements, when looking for a mortgage.

Financial Accounts and SA302s: Lenders usually ask for copies of your business financial  accounts or self-assessment tax returns from the last two to three years, as per their specific criteria. It’s important to have these documents ready when looking for a mortgage. SA302s
are official tax calculation documents provided by HM Revenue & Customs in the UK,
serving as proof of your reported income.

Accountant’s Verification: Some lenders might require a statement from your accountant to verify the accuracy of your financial records and provide further information about your financial health. This
verification can help confirm the details you’ve submitted.

Financial Projections or Business Plan: In certain instances, lenders may ask for financial projections or a business plan that outlines your anticipated earnings and financial outlook. This requirement is particularly important for newly founded businesses or if there have been significant changes in your income in recent years, as these factors play a crucial role in the mortgage process.

Bank statements: Typically, lenders will request personal and business bank statements for the past three to six months. These bank statements help them assess your income, expenses, and overall financial condition.

Deposit Verification: You will need to present proof of your deposit funds. This could include bank statements or investment account statements that show the accumulation of your deposit savings.

How much deposit would I need to put down as an influencer or content creator?

The deposit required for securing a mortgage is the same for an OnlyFans creator as it is for individuals in other professions.
You can qualify for a residential mortgage with a minimum deposit of 5%, provided you meet the lender’s guidelines, which include fitting their affordability criteria based on your income and expenditures.
If your earnings as an Influencer or  OnlyFans creator are adequate for the desired mortgage amount, there are lenders who may approve a 95% mortgage.

Before you consider making an offer, find out your borrowing capacity.

Prior to contemplating an offer on a property, seeking mortgage advice to determine your borrowing potential is highly recommended, especially when your income comes from such a niche industry and not fully understood by all lenders or brokers. Completing this step early can position you as a credible buyer and clarify what is within your reach.

Our mortgage services for influencers

At Montgomery Financial, we recognise the distinct requirements of influencers and are equipped to assist them in obtaining a wide range of mortgage products. This includes options for first-time buyers, remortgages, and home mover mortgages. Additionally, we can support influencers in acquiring investment properties through buy-to-let mortgages.
From offering professional mortgage guidance and aiding with mortgage applications to securing favourable mortgage rates, our committed team is devoted to helping influencers reach their homeownership aspirations

Frequently Asked Questions – Mortgages For Influencers

Lenders use various approaches to evaluate your income, which can vary based on whether you are self-employed as a sole trader or operate a limited company; hence, consulting a mortgage adviser is advisable.

In the case of sole traders, lenders typically examine the net profit reported on your yearly tax return.

What income is used for a Limited Company Influencer mortgage

For directors of limited companies, lenders have several methods to evaluate your income. These encompass various income methods, including:

Salary and dividends: This method involves calculating your salary along with the yearly dividends you’ve received, as recorded in your company accounts or tax return. Understanding these aspects is crucial for determining how much you can borrow.

Salary and net profit: Unlike the previous method, this approach considers that many influencers don’t withdraw all available funds from the company because they might not require them, which might affect their eligibility for the best mortgage deals.

However, if needed, they could access these funds. Though this may reduce the number of lenders willing to work with you, it could significantly increase your borrowing capacity.

Can I use my latest years figures for an Influencer mortgage

Yes there are lenders who will lend based on the the latest year’s income instead of averaging the two years, if you have had a good year then this can massively boost your affordability over a lender who would take the average of the last two years. Here at Montgomery Financial we know the lenders to work with who will help you get your mortgage as an influencer.

How many years of accounts would an Influencer or OnlyFans creator need to get a mortgage?

You will need a minimum of one years accounts and then there are a limited pool of lenders who will consider this, but typically lenders want to see two years accounts, but it is possible and here at Montgomery Financial we have achieved mortgages for content creators and influencers with one years accounts. Need help knowing what you can afford then call us on 01933829444

Will Mortgage lenders accept the way influencers get paid?

In order to qualify for an influencer mortgage, you need to prove a consistent income and financial reliability to lenders, demonstrating how much you can borrow. 

Conventional mortgage lenders typically favour job-based, salaried earnings, which can pose difficulties for self-employed individuals such as influencers when applying for a mortgage on the high street.
Nevertheless, there are alternative ways to demonstrate financial stability beyond the conventional 9-5 job. A mortgage advisor like Montgomery Financial based in Raunds, Northamptonshire can assist you in effectively presenting your income sources and connecting with lenders who have more suitable lending criteria and who are more understanding of how influencers and content creators earn their income. This can save you significant time and effort.

Is it possible to get an influencer mortgage with 1 years accounts?

Certain lenders may take into account just one year of self-employment records for mortgage qualification, but you may need to provide additional documentation.

Are there specialist mortgage brokers for influencer mortgages?

Although the term ‘influencer mortgages’ isn’t officially recognised, many lenders are open to considering applications from self-employed individuals, including influencers. These lenders evaluate mortgage affordability differently, which means the process might involve additional steps.
Some mortgage providers are more inclined to offer loans to influencers than others, making it crucial to know which lenders to approach. Partnering with a broker like Montgomery Financial can be beneficial in this scenario. For expertise in influencer and content creator mortgages, contact Montgomery Financial located in Raunds, Northamptonshire NN9 6LL, or give us a call at 01933 829444.

Can I get a mortgage if I am an influencer?

While not every financial institution may agree to provide a loan since they all have their own requirements, there will be lenders who evaluate Influencer mortgage applicants similarly to how they assess estate agency owners or aesthetic’s salon owner, basing their decision on the robustness of the business.
Lenders will seek assurance that the business is sustainable in the long term and that the income from Influencer or content creation will persist into the future.

I just receive content creator/ influencer income but have experienced massive growth, especially in the last year. Will lenders take this into account?

Many social media influencers may notice a rapid increase in their earnings, even if they are newcomers to the field. One benefit of consulting a mortgage advisor is that they can determine the most effective way to showcase your financial situation. 

The underwriters, who are responsible for lending decisions, need to be confident in the stability of your income to ensure you can manage repayments on your mortgage both now and in the future. 

Hence, a mortgage advisor who comprehends the specific requirements of clients like Instagram influencers or individuals whose income comes exclusively from platforms such as YouTube, OnlyFans, etc. can be particularly valuable.

Would I need a specialist lender to get a mortgage as an Influencer?

Certain mainstream lenders might be open to providing loans to influencers or content creators just as they would for other professions.
An adviser will take into account various aspects such as your payment structure, frequency of income, profitability, credit history, business trends, and existing debts when determining if you should seek a mortgage from traditional lenders or a specialised provider.
Therefore, it’s advisable to seek personalised, expert advice from a mortgage broker with expertise in this area, like us at Montgomery Financial.

Do Mortgage Lenders Prefer Certain Type Of Influencers?

Simply put the answer is no, they are only concerned with the stability and consistency of the income. 

The important part is knowing which lenders will accept income from a newer industry such as being an Influencer or content creator, and this is where Montgomery Financial steps in with our expertise and knowledge.

I only have 1 years accounts In the influencer industry, will my income accepted?

In short, there are lenders who may take into account self-employed income from one year for mortgage applications, simplifying the mortgage process.

Can I use my income to get buy an investment property on a buy to let basis?

Certainly, as long as you meet the requirements set by the lender, you can proceed with applying for a mortgage. Typically, you will be required to provide a larger upfront payment compared to purchasing a residential property, with a minimum of 25% of the property’s value. 

When applying for a buy to let mortgage, lenders will take into account not only your personal income but also the potential rental income from the property, which influences the mortgage process.

How can a specialist mortgage broker help me to get a mortgage as an Influencer

As an influencer, securing a mortgage can present unique challenges, but a specialist mortgage broker like Montgomery Financial can be your ideal partner. Specialist influencer mortgage brokers understand the distinct financial situations influencers often face and can offer invaluable guidance. If you need advice on how much you can borrow for a mortgage or need a mortgage in principle, consider calling 01933829444. 

Our experts have access to a wider range of mortgage products and can help you navigate through the complexities to get mortgages that suit your needs.

Working with a mortgage advisor can ensure you get the best possible mortgage for your situation.
They will match you with a mortgage that aligns with your financial profile and requirements. An expert mortgage advisor is a professional who can guide you through the mortgage application process and answer questions like “How much can I borrow?”. Residential mortgages can be obtained through our expert services, ensuring you have access to a wider range of mortgage products. When you need advice, our specialist mortgage broker for influencers will always match you with the right lenders and offers.

Using a mortgage broker like Montgomery Financial can give you peace of mind by ensuring you are partnering with someone experienced in working with influencers.
Influencers often have varied income streams, making it essential to work with an expert mortgage advisor today who understands this. We  will simplify the process, helping you get mortgages tailored for influencers. A mortgage is a very large loan in effect and knowing how to navigate the process, the implications and all your options  is crucial. By choosing to use a mortgage broker, you will have access to their expert knowledge and benefit from their ability to guide you through the mortgage process effectively.

Speak To an Expert
We want to keep that relationship with you up until your mortgage completes in 20, 25 or maybe 35 years. It’s not just a one-off transaction. It’s a long-term relationship, where we watch the market to get you the most positive products out there and try to save you money.

Why Montgomery Financial

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