Over the years we have spoken to a number of athletes and sports people. From Olympians to professional sports people we have worked with a number of sports people over the years.
Types of Sports
As mentioned we have spoken to a number of sports people over the years, we have had a few boxers, both Olympians and professionals who have gone on to fight for British, European and World titles right through to Tennis players.
Because of the variety of sports people we have spoken to, we are experienced with the various quirks that can crop up when looking at mortgages for athletes. These can be questions regarding what happens at the end of being a professional athlete – will there be a drop in income?, what happens during illness or injury and what type of income you may receive…
Types of Income
With such a varied type of sports men and women its not surprising we have come across a number of types of income. With income from contracts with TV channels, sponsorship, Sport England and so on we have been able to work with lenders who will look at a number of different types of income in order to help obtain a mortgage at the end of it.
Things to consider
As a professional sports person, obviously your career can have set backs with injuries or a drop in performance. Its also quite possible/likely your career will end before the mortgage finishes.
It is important to think about what your plans are. In the past we have seen things like working for TV doing punditry work. Become a coach or trainer and so on. Depending on your age, career and plans we may need to provide evidence to underwriters, but we can help with that.
What happens if you become injured and are unable to work for a period of time? Will your income take a hit? If so, what are the plans there? Again, this is something we can discuss and potentially help with.
Not all lenders will accept all forms of income, so its important we sit down and understand your income sources so we can give you an accurate idea of your lending ability.
Summary
Over the years we have built up a lot of experience helping people obtain a mortgage.
Its important that we find a lender who understands and accepts income from various sources and maybe unusual sources. Its also important to find a lender who will accept your income may come down after a period of time.
For this reason it is quite tricky to obtain a mortgage as an athlete directly. It is quite likely you will need a Mortgage broker, whether that be us or someone else.
However we do have experience and time to sit down and understand your circumstances in order to ensure the best deal possible for your circumstances.