The Times - Why lenders are showing sportspeople the red card
The Times wrote an article explaining how difficult it can be for footballers, cricketers, athletes, musicians and artists to secure mortgages because of strict lending rules.
Aaron Strutt, product director at Trinity Financial, told The Times: “Lots of the lenders say they offer sportspeople mortgages, but in reality they are not always very flexible. They either offer a shorter term, making the repayments unaffordable, or refuse the application if they are not comfortable that the applicant will get another job earning the same amount after they retire.
“As a mortgage adviser, you only tend to go to the smaller building societies if you get knocked back by bigger banks. Their rates are often higher and they can charge bigger fees.”
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