TV industry / Future income / multiple self-employed income sources

You work in TV, own your own fitness brand, and have millions of followers on social media, but the lender’s underwriters have suddenly become clairvoyants!

The challenge

• Over a number of years, there’s never been a problem in getting a mortgage.
• You are a well-known individual with everyone knowing about your career.
• You have diversified into other areas and have great, but short, trading figures.
• The underwriters have decided to predict the future and say that you won’t be earning the same amount in 10 years.

The solution

• This case went higher and higher up the bank to a very senior level.
• There were a huge number of mitigants to the underwriters concerns which we demonstrated and evidenced.
• Although the other business was relatively new, we weren’t reliant on the income, but could also demonstrate that it had been trading incredibly well, especially as they reduced their TV work and were focusing on this more.
• We researched and demonstrated the level of income someone on social media can earn with millions of followers, for each post.
• The term reduced slightly to mitigate the underwriters concerns on income longevity as a compromise.

After thought

We will always fight tooth and nail to do right by our clients, especially when we feel there is an injustice. We have access to senior levels of most lenders, to have the conversations needed on cases like this where we feel the underwriting is either too harsh, or plain wrong.

Other case studies

David was absolutely amazing, from helping us find the right mortgage, to advising us, to being on hand for silly questions we had. Nothing was too much trouble for him. I will absolutely be recommending him to our friends.

Frederica Turner