Are you working in a creative industry and struggling to secure a mortgage? Find out how we might be able to help…

Wednesday September 25, 2019

If you work in an industry where your income is variable, it can be challenging to secure a mortgage. A number of our clients come from the worlds of sport and performing arts where their income can change drastically from one year to the next. However, it’s far from impossible to secure lending. You just need a team like ours on your side to help source the right lending solution.

Case profile

One of our recent cases was a prime example, as our husband and wife clients worked in a creative industry. Their recent income levels had been low in recent years and any lender looking purely at this factor would not have been able to lend at the level they required. However, the clients were collaborating on a project which was projected to bring in substantial income.

The clients were remortgaging to repay an existing £900,000 mortgage on their main home and also wanted to raise £200,000 to replenish cash funds they had spent on home refurbishments. Many lenders will not consider lending to cover this latter purpose, so this proved a challenge alongside the source of their income being foreign currency and offshore limited companies, which can prove difficult for some banks to lend against.


Our Associate Director Nigel Bedford used his knowledge to present a compelling credit proposal to the small number of banks which might be able to consider this particularly challenging case.

By demonstrating the couple’s previous track record and progress on their creative project to date, the bank was sufficiently reassured that the anticipated earnings would be sufficient to fully or substantially repay the mortgage in two years, should they choose to do so.

Loan amount:
2.50% fixed for 2 Years
Loan To Value:28%
APRC:Overall cost for comparison 3.30% APRC representative variable
Term:2 Years
Type:Interest only
Loan purpose:Remortgage
Lenders arrangement fee:1.0% of loan amount
Early repayment charge:
2% of the outstanding loan amount in Year 1, 1% in Year 2

Overall cost for comparison 3.30% APRC representative variable based on 8 quarterly payments at a fixed rate of 2.50%. Total amount to be repaid is £1,155,000. 

Because this is an interest only loan, separate arrangements will need to be made to repay the original loan amount owed at the end of the mortgage term. The actual rate available will depend upon individual circumstances and may not be available to everyone. Ask for a personalised illustration. 

Your home or property may be repossessed if you do not keep up repayments on your mortgage.  

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Your home or property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Changes in the exchange rate may increase the sterling equivalent of your debt. You may have to pay an early repayment charge to your existing lender if you remortgage. Think carefully before securing any other debts against your home. is a trading name of Ltd, Aegon House, Ground Floor Suite, 13 Lanark Square, London, E14 9QD authorised and regulated by the Financial Conduct Authority (FCA). Our FCA registration number is 302228 and can be viewed by visiting the FCA website: The FCA does not regulate tax advice or some aspects of commercial, buy to let, overseas mortgages, bridging finance, finance and asset lending. Ltd is a licensed credit broker, and not a lender. Ltd Registered in England and Wales No: 5070990 Registered Address: As above. The guidance and advice contained within the website are subject to the UK regulatory regime and is primarily targeted at UK customers. Calls may be recorded for training and monitoring.
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