Mortgages for Influencers

Mortgages for Influencers – Tailored Mortgage Solutions for Self-Employed Creators

As an influencer, your work life may be far from traditional, but that doesn’t mean your homeownership goals should be.

Securing a mortgage when your income comes from diverse sources such as brand deals, sponsorships, and content creation may seem daunting.

Lenders often favour steady, salaried income over the fluctuating earnings of self-employed individuals, which can make navigating the mortgage process challenging for complex income mortgages.

However, there’s good news. At Kerr & Watson, we specialise in helping influencers and self-employed professionals get the mortgage they need.

We’ll guide you on how influencers can secure a mortgage, what documentation is needed, and how we can simplify the process for you.

Can Influencers Get a Mortgage?

The short answer is yes, influencers can absolutely get a mortgage. However, the path to mortgage approval can look slightly different for self-employed individuals like influencers compared to those with more conventional income streams.

Some traditional lenders can be hesitant when it comes to offering mortgages to influencers due to the inconsistent nature of income.

Lenders typically assess your income based on stability and future sustainability. This means that whether your income comes from affiliate marketing, YouTube revenue, brand sponsorships, or merchandise sales, it needs to be clearly documented and presented in a way that reassures lenders so they know it’s sustainable.

At Kerr & Watson, we understand the nuances of the influencer industry and can work with you to compile the necessary paperwork, ensuring that your application stands the best chance of success.

Challenges Influencers Face When Applying for a Mortgage

The unique nature of influencer income can present several challenges when applying for a mortgage. Here are the most common hurdles:

Income Fluctuations

Unlike a regular salary, influencer earnings can vary significantly month to month. Some months may bring in a high income from brand deals or viral posts, while others may be quieter. Lenders may view this unpredictability as a risk, especially if they’re used to more traditional forms of employment.

Multiple Income Streams

Influencers often have several sources of income, from ad revenue to product collaborations. Lenders need clear documentation that outlines how these income streams work together, which can require careful preparation.

Short Trading History

Lenders typically ask for at least two years of accounts to assess an applicant’s financial stability. If you’re relatively new to influencing or have only recently started monetising your platform, this could pose a problem when applying for a mortgage.

At Kerr & Watson, we help influencers present their income in a clear and organised manner, addressing any potential concerns lenders may have. Our expertise allows us to guide you through these challenges, ensuring the process is as smooth and stress-free as possible.

What Documentation Do You Need as an Influencer?

When applying for a mortgage, influencers will need to provide several key documents that demonstrate both income stability and financial credibility. These may include:

• Tax Returns: Typically, lenders will ask for two to three years of personal and/or business tax returns. These documents verify your income and give an indication of your financial stability.
• Profit and Loss Statements: As a self-employed individual, you may need to submit detailed profit and loss statements showing your earnings and business expenses over the last two to three years, depending on trading history.
• Bank Statements: Lenders often require personal and business bank statements from the past three to six months to verify your income and track your cash flow.
• Credit History: A solid credit history is helpful. Lenders will examine your credit score, so make sure to check your credit report ahead of time and address any potential issues.

We can help you gather these documents and present them to the lender in a way that highlights the strength of your financial situation.

The Benefits of Using Kerr & Watson for Your Mortgage Needs

At Kerr & Watson, we specialise in providing tailored mortgage advice for influencers and self-employed individuals. Here’s how we can support you:

• Expertise in Self-Employed Mortgages: We understand income generated from self-employment and know how to present your income to lenders in the best light.
• Access to Specialist Lenders: In addition to high street lenders, we have relationships with specialist lenders who are experienced in working with influencers and other self-employed professionals, which means we can look for the right mortgage for your unique situation.
• Personalised Service: Every influencer’s financial situation is different. Whether you’re a YouTuber, Instagram influencer, content creator on TikTok or OnlyFans creator, we provide advice that’s specific to your needs and goals.
• Saving You Time and Stress: Applying for a mortgage can be time-consuming, especially when dealing with fluctuating income streams. We take the hassle out of the process by managing the application on your behalf, ensuring everything runs smoothly.

Conclusion

As an influencer, securing a mortgage may come with its challenges, but it’s certainly achievable for some with the right preparation and guidance.

At Kerr & Watson, we have the expertise and industry connections to help you through the mortgage process. Whether you’re applying for your first mortgage, remortgaging, or investing in property, we’re here to help you every step of the way.

If you’re ready to take the next step, get in touch with Kerr & Watson today.