Social Media has created a new category of self-employed professionals: influencers. As an influencer seeking a mortgage, you face unique challenges in proving your income stability to lenders. This guide covers what you need to know.
Why Influencer Mortgages Are Challenging
Unlike traditional self-employed professionals (plumbers, accountants, etc.), influencers:
- Work in a relatively new industry
- Have highly variable income dependent on algorithms and trends
- May lack traditional business accounts or tax returns
- Often work across multiple platforms with different income streams
What Documentation You'll Need
Tax Returns and Accounts
You'll need at least 1 years of completed tax returns or company accounts, although, many lenders will require 2 of tax returns or company accounts to verify your income. This is non-negotiable for most lenders.
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Bank Statements
3 months of bank statements showing income deposits from various platforms. This demonstrates your earnings are consistent with your declared income.
Proof of Deposit
3 months of bank statements of the account in which your savings is held in, or alternatively, if you are being provided with a gift, the lender will require a signed gifted deposit letter.
How to Strengthen Your Influencer Mortgage Application
1. Get advice from an independent broker
Different lenders will assess your income differently.
Sole Traders
Lenders will treat your income in one of the following ways
- Latest years net profits
- Average of the latest two years net profits
- Latest years net profit averaged with a projection of the upcoming year
Limited Company Directors
Lenders will treat your income in one of the following ways
- Latest years company net profit after corporation tax + your directors salary (even if only one year is available)
- Average of the latest 2 years company net profits after corporation tax + your directors salary
- Latest years company net profit before corporation tax + your directors salary (even if only one year is available)
- Average of the latest 2 years company net profits before corporation tax + your directors salary
- Projection of your next set of company accounts, averaged with your latest set of company net profits after corporation tax + your directors salary
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Interest Rates and Deposits for Influencers
- Your deposit size typically needs to be at least 5% of the properties value, but there are lenders who can proceed with a deposit as low as 0%
- The interest rates available are no different to those available to the rest of the market
Specialist Lenders for Influencers
Some mortgage lenders now specialize in lending to self-employed professionals, including influencers. They understand the nature of platform-based income and are more flexible with documentation.
Final Thoughts: Yes, You Can Get a Mortgage as an Influencer
Being an influencer shouldn't disqualify you from getting a mortgage. In fact, there is no such thing as an 'influencer mortgage, and influencers qualify for standard mortgages at standard interest rates. With proper documentation, income diversification, and the right lender, you can secure a mortgage to buy your home.
The key is preparation – get your accounts in order, and approach a broker like us at Quanstrom Financial who can access specialist lenders who understand your industry.
📞 Need help securing a mortgage as an influencer? Call 01323 364432
📧 Email info@quanstromfinancial.co.uk
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