Head of Content
Mortgage Advisor & Director
Mortgage advice for sports professionals
As a professional sportsperson, getting a mortgage may be more complicated than you might expect.
Whether you're looking to buy your first home, second home or develop a portfolio of properties, there are potential barriers when it comes to getting a mortgage.
With short term contracts, a fluctuating income, potentially from a range of sources, not all mortgage lenders are equipped to deal with sports professionals. Lenders will want to see a track record of at least 2 years of playing at a professional level. However, some lenders may offer a mortgage based on anticipated income if you've recently signed with a new club or sponsor.
At Teito, we're a whole of market mortgage broker, which means we have access to more than 100 lenders, including those who specialise in mortgages for sports professionals. Our team of expert advisers can recommend the most suitable lenders to approach while finding you the best deal. Get started now, and we promise to make your mortgage journey as stress-free as possible!
Why can professional athletes struggle to get a mortgage
Despite potentially high incomes, several factors can make professional athletes a less attractive borrower from a mortgage lender's perspective.
Short term fixed contracts - Many clubs only offer short term fixed contracts which can be seen as a risk for mortgage lenders.
Shorter career - An athlete's professional sporting career is shorter than, for example, a doctor, although there may be other opportunities such as coaching or TV work.
Injury Risk - The risk of injury can impact income and longer-term prospects, which is another risk for mortgage borrowing.
Multiple sources of income - You may benefit from various income sources, including any sponsorship deals, appearance fees and bonuses. Mortgage lenders prefer a stable income, although there are lenders who will accept income from multiple sources.
Residential status - As a professional athlete, you may have moved to the UK for your career and, as such, could struggle to get a UK mortgage.
Learn more and apply
At Teito, our team of experts have helped many professional athletes to get the best deal on their mortgage. As a whole-of-market broker, we work with hundreds of lenders, many of which cater to non-standard or specialist requirements. To get started, complete our simple online form and start comparing deals.
Choosing an Adviser
Selecting a qualified and experienced mortgage adviser is of great importance. To choose a suitable adviser, evaluate their qualifications, experience, and reputation, and ensure they are regulated by the Financial Conduct Authority (FCA).
Read reviews from previous clients and make sure they provide a clear explanation of the products and services they offer, as well as the fees and charges associated with them.
