Every now and again a quirky enquiry comes in that is something a little different to anything we have done before. That can be anything from some unusual mix of income or a TV personality or something a little different.
We were recently investigating getting a Mortgage for someone who runs a YouTube channel. This is not an occupation I have come across before and being a little naive, I did not even realise you could earn an income from running a YouTube channel!
So we did what we always do, had a quick chat to get an understanding of how it works and money is made and paid. We took took the basics down in terms of income and what they were after after (ie purchase price and deposit) and off we went to do some research.
As it happens, many lenders were in essence treating the person as they would if the application were for someone who is on TV, which I suppose makes sense seen as a lot of the job overlaps. In the main our account managers at the various lenders were telling us what documents we would need to obtain which matched what documents we get when doing mortgages for people who are on the TV or silver screen.
When researching this further, it seems that earning money from YouTube is not actually uncommon and it can be a good way of earning an income. We did find some lenders were a little unsure and needed to see a full breakdown of the accounts, but in the main we were able to find lenders in principle happy to agree the mortgage subject to seeing a full Mortgage Application come in and at normal rates.
How can Mortgage Success help?
We have done this now, we have been there and got the t-shirt so to speak. As we have been trading since 2013 and this is the first time this has cropped up, I imagine there will be a lot of brokers out there who have never had a case like this on their desk before.
Whenever we get something a little different, we add it to a spreadsheet meaning we have a starting point when something similar hits our desk. If you earn your income via YouTube or something similar, we will be able to pick it up and make a start immediately. We can give you indicative rates from the outset – subject to the rest of your situation.
If you would like to discuss your situation with us, please get in touch using our contact form or calling us on 0161 327 2799.