{"id":8434,"date":"2025-04-02T09:19:04","date_gmt":"2025-04-02T09:19:04","guid":{"rendered":"https:\/\/www.spotlight.com\/?p=8434"},"modified":"2025-06-02T16:26:18","modified_gmt":"2025-06-02T16:26:18","slug":"how-to-get-a-mortgage-as-a-self-employed-performer","status":"publish","type":"post","link":"https:\/\/www.spotlight.com\/news-and-advice\/self-employment\/how-to-get-a-mortgage-as-a-self-employed-performer\/","title":{"rendered":"How to Get a Mortgage as a Self-Employed Performer"},"content":{"rendered":"

Expert advice for freelance actors and performers about how to increase your chance of getting a mortgage and what you can do now to prepare for future home ownership.<\/span><\/h2>\n

As a performer, your income structure can be quite unique with your personal finances fluctuating depending on your working situation. Due to the particular nature of the arts and entertainment industry, your monthly income is rarely the same each month \u2013 when work is busy, you\u2019ll have an income that reflects the good times, and during quiet periods between roles, finances may be tighter.<\/span><\/p>\n

High street mortgage providers tend to be rigid in their screening processes and, as a performer with an unpredictable financial situation, securing a mortgage from them can be a frustrating experience. Traditional lenders prefer to see a regular income coming into your account each month and they can struggle to understand the unique nature of a performer\u2019s finances, with money coming in from multiple income streams \u2013 be it from contracts, self-employed work, or tax-free pay from a <\/span>cruise ship gig<\/span><\/a>.\u00a0<\/span><\/p>\n

That doesn\u2019t mean you can\u2019t own a home, but you may need some specialist advice to know which lenders will be more likely to say yes to your application.\u00a0<\/span><\/p>\n

We spoke with specialist mortgage adviser Austyn Johnson to see what wisdom he could share with Spotlight members who are browsing the housing market, or perhaps thinking about house-ownership in the future. Austyn heads up the \u2018<\/span>Mortgages for Actors<\/span><\/a>\u2019 branch of <\/span>H D Consultants<\/span><\/a> and understands the complexities of the finances of those who work in the arts and entertainment industry.\u00a0<\/span><\/p>\n

Here\u2019s his advice to help navigate the complexities of applying for mortgages as a self-employed performer.<\/span><\/p>\n

W<\/span>hy do performers sometimes struggle to get a mortgage?<\/span><\/h3>\n

90% of it is a lack of education in the financial industry. It’s very easy to blame it on performing arts being an insecure industry, but essentially performers are just self-employed. Self-employment as a whole is seen as complex income, which is weird, because to us, it\u2019s something that’s quite simple.<\/span><\/p>\n

Performers get paid in such a different way that a lot of lenders say no or they just can’t be bothered or don\u2019t have the resources to spend the time to properly assess an application. And that’s why people come to us, because we do spend the time.\u00a0<\/span><\/p>\n

We show people how to lay an application out properly and then we present it to the right mortgage lenders who can understand self-employment to a certain point and show them how to look at the income better. So rather than you just being a number, they think of you as a person \u2013 \u201cThis is them, this is their salary, this is how they earn it and this is their history of earning\u2026\u201d We try to build a story for people.<\/span><\/p>\n

Are there certain providers who make allowances for performer\u2019s unique financial position?<\/span><\/h3>\n

Some providers are better than others. The mortgage industry is based on personal circumstances, so what works for one might not work for another. There’s 200+ lenders and I could list a lender off and they might be great for one person but not for the next.<\/span><\/p>\n

We always try to start at the high street level as they’re the lowest rates because they ask for the minimum amount of risk. There are some lenders: Barclays, Santander, those sort of people, who are happy to consider the self-employed. If it’s a bit outside the box, they’ll just say no. However, there are lots of lenders out there that have a much better approach. Some of them will have their assessor ring us up and say, \u201cI want to talk to you about this case because it looks like it’s good but I need to clarify.\u201d And then we almost always get a yes before we even apply and before the client has even spent a penny. We already know that they’re going to accept because we’ve done all the work upfront.<\/span><\/p>\n

What are the eligibility criteria that lenders assess for mortgage applications?<\/span><\/h3>\n

As long as you’ve been working, that’s the best start because you can’t pay for a mortgage unless you’re working. With self-employment, we need at least one year’s full accounts so we can show that there\u2019s income and it’s provable. When you’ve only got one year of accounts, they\u2019ll want to see on your bank statements that you’re still earning money.\u00a0<\/span><\/p>\n

If you can prove two or more years, then it shows a bit of a track record and they’re not quite so bothered about what you’re doing right now.\u00a0<\/span><\/p>\n

Because essentially a mortgage is a loan, they’re just asking whether you can repay it and they’re looking for proof as to how you can repay it.<\/span><\/p>\n

What are the different types of mortgages available? And are any of them more suitable for a performer?<\/span><\/h3>\n

All are welcome in their own way. So it depends how you get paid, how you feel about risk and what you want to do.\u00a0<\/span><\/p>\n

There two main types of mortgage are:\u00a0<\/span><\/p>\n