Whether through choice or circumstances, celebrities tend to do things differently. There are few better examples of this than in the way that they buy property.\r\n\r\nIn this article, we\u2019re going to talk about the unusual world of celebrity finance - covering how entertainers, actors and sportspeople of all kinds buy the homes that they do.\r\n<h5>Here\u2019s what you\u2019ll learn in this article<\/h5>\r\n<ul>\r\n \t<li><a href="#what-are-celebrity-mortgages">What are celebrity mortgages and how do they differ from regular mortgages?<\/a><\/li>\r\n \t<li><a href="#athlete-mortgages">How do mortgages for athletes work?<\/a><\/li>\r\n \t<li><a href="#entertainers-actors-mortgages">How do entertainers and actors\u2019 mortgages work?<\/a><\/li>\r\n \t<li><a href="#get-right-advice">Why is getting mortgage advice important, regardless of how famous you are?<\/a><\/li>\r\n \t<li><a href="#celebrity-mortgage-expert">Speak to a celebrity mortgages expert<\/a><\/li>\r\n<\/ul>\r\n[feefo-banner]\r\n<h2 id="what-are-celebrity-mortgages">What makes celebrity mortgages different?<\/h2>\r\nThere are two main differences between the \u2018celebrity\u2019 and \u2018regular\u2019 borrower. These are needs (which are often more unusual for the celebrity) and circumstances (which is often more complex, due to the way that the celebrity makes money).\r\n<h3>Celebrities often need larger loans for more complex deals<\/h3>\r\nOn average, celebrities buy property that costs more than average. Financing and deal structuring can get more complex once we get into the realm of seven (or eight) figure mortgages.\r\n\r\nWant to find out more about financing a large loan? Take a look at our <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/large-mortgage-loans\/">large mortgages<\/a> article. We work with brokers with expertise in arranging large mortgage loans and high net worth mortgages.\r\n<h3>Celebrities do international business<\/h3>\r\nBeing paid in multiple currencies, and overseas tax liabilities can also cause trouble with many lenders. It can also be different for foreign citizens (who don\u2019t officially have a permanent home in the UK and are often classified as \u2018non-domicile\u2019)\r\n<h3>Celebrities need total discretion<\/h3>\r\nHigh profile borrowers such as celebrities require a certain amount of discretion beyond what is normal. Buying property through trusts or a pseudonym is not at all uncommon. Confidentiality is non-negotiable - and not every lender can provide the level of secrecy that is required.\r\n<h3>Celebrities have unusual income sources<\/h3>\r\nCelebrities often make their money through a variety of income streams. The mix of personal and business finances can create a complex financial profile that some lenders just aren\u2019t able to properly categorise or work with.\r\n\r\nNot only that, but careers can be unpredictable and celebrity earnings can vary dramatically, year over year - depending on the success of various projects.\r\n\r\nMortgage brokers for famous people have the skills and the professional network that a celebrity needs for their specific needs and background. A great broker takes the time to understand a borrower\u2019s circumstances and needs before tailoring applications to a shortlist of carefully chosen lenders.\r\n<h2 id="athlete-mortgages">How do mortgages for athletes work?<\/h2>\r\nYou don\u2019t have to be a celebrity sportsperson to have unusual financial needs. In fact, many professionals and semi-professionals at all levels and sports and face similar financing issues.\r\n\r\nDespite the fact that many athletes and e-sports professionals do quite well from an earnings point of view, they\u2019re often viewed as high risk by lenders. Why?\r\n<h3>Various, unpredictable income streams<\/h3>\r\nThe income of your \u2018typical\u2019 pro or semi-pro is not typical. There can be a huge variation on a yearly basis, based on prize money, sponsorship, grants\/lottery funding and many other variables, some of which aren\u2019t taxable. The unpredictability of fixed-term team\/club contracts can also be an issue for some people.\r\n\r\nSportspeople also and often take some of their earnings in foreign currencies, or pay tax overseas - another factor that can create issues with some lenders.\r\n<h3>Shorter careers<\/h3>\r\nAs we know, many sports careers have a shorter shelf life than conventional careers. One issue is injury, which can quickly end a promising career.\r\n\r\nSome lenders are hesitant about lending beyond the timeframe of an athlete\u2019s professional career, which, in some sports can be as short as 10-15 years.\r\n\r\nAs a result, mortgages for sports men and women are often shorter than normal - only spanning the predicted length of the athlete\u2019s primary career. Lenders will want to know that the mortgage can be maintained after the main career ends, so they will be looking for the security of athletes moving into coaching\/commentary work at the end of their playing career.\r\n<h2 id="entertainers-actors-mortgages">How do mortgages for actors and entertainers work?<\/h2>\r\nActors and entertainers of all kinds (whether famous or not) also bring complex financial backgrounds to the table. In fact mortgages for actresses and actors can be quite similar to mortgages for the self-employed - this is because many entertainers are self-employed, working on a \u2018gig\u2019 basis.\r\n<h3>Contract based work<\/h3>\r\nEntertainers often work <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/income-types\/fixed-term-contracts\/">fixed-term contracts<\/a> (as opposed to permanent jobs), which can result in the kind of income fluctuations that scare some lenders off.\r\n<h3>Additional income streams<\/h3>\r\nOften, entertainers gain additional income from things such as merchandise, ticket sales, and sponsorship. Like the athletes given above, they often work abroad, receiving income and paying taxes in other currencies.\r\n<h4>Getting a mortgage using endorsements<\/h4>\r\nIf you're planning to use revenue generated from endorsements to secure a mortgage, you may have difficulty getting one with a high street lender. This is because endorsements are classed as 'non-standard' income, and many lenders aren't flexible enough to accept this. They often prefer applicants with pay as you earn (PAYE) salaries because they see regular income as less of a risk.\r\n\r\nLuckily, there are specialist lenders who can accommodate those with non-traditional revenue streams. The advisors we work with can put you in touch with private and high net worth lenders who accept this type of income. <a href="https:\/\/enquiries.onlinemortgageadvisor.co.uk\/match-me-with-a-specialist-broker">Make an enquiry<\/a> to get started.\r\n<h4>Getting a mortgage through sponsorships<\/h4>\r\nIf you want to factor in revenue earned through one or multiple sponsorships as part of your <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/mortgage-application\/">mortgage application<\/a>, then the process will be similar to how endorsements work.\r\n\r\nHowever, sponsorships tend to offer a more ongoing commitment between the parties involved compared with endorsements, so niche lenders may take this into account when generating your mortgage quote.\r\n\r\nWe work with advisors who specialise in niche lending and they can connect customers to lenders who accept these sponsorships as declarable income.\r\n<h2 id="get-right-advice">Why is getting mortgage advice important, no matter how famous you are?<\/h2>\r\nAs a result of the complexity of their finances and their specific needs, a great many celebrities, entertainers and sports people use mortgage brokers. There are a number of good reasons for this.\r\n<h3>It provides better access<\/h3>\r\nFully independent, whole-of-market mortgage brokers have a painstakingly built network of connections and access to the kind of more flexible lenders who can help a person with an unusual financial background and specific needs.\r\n\r\nThese include private banks, investors and other specialist lenders with experience in financing unusual cases.\r\n<h3>It\u2019s more efficient<\/h3>\r\nMortgage brokers have experience in financing unusual cases (such as celebrities and high net worth people). This can get things done more quickly and more cheaply.\r\n\r\nTime is often of the essence when it comes to arranging financing for complex deals under a tight deadline, and the right financial product can potentially save a borrower thousands of pounds in the long term.\r\n<h3>It provides more and better options<\/h3>\r\nAccess to a larger lender base can bring with it more and better options. These include such as interest-only terms, better interest rates, higher LTVs and flexible term lengths.\r\n\r\nThese are the kind of loans that are not easily available on the high street (though some high street lenders provide them).\r\n<h2 id="celebrity-mortgage-expert">Get the \u2018celebrity treatment\u2019 by talking to a broker who is an expert when it comes to getting mortgages for celebrities<\/h2>\r\nNo matter how famous you are, and however you make your money - a great mortgage advisor can help you to find the ideal financing solution for you, with 100% discretion and tact.\r\n\r\nNeed a little help? Call Online Mortgage Advisor today on 0808 189 2301 or make an enquiry <a href="https:\/\/enquiries.onlinemortgageadvisor.co.uk\/match-me-with-a-specialist-broker">here<\/a>.\r\n\r\nThen sit back and let us do all the hard work in finding the broker with the right expertise for your circumstances. - We don\u2019t charge a fee and there\u2019s absolutely no obligation or marks on your credit rating.