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You are here: Home / Mortgages / Self Employed Mortgages / Self Employed Mortgages for personal trainers

by Payam Azadi

Self Employed Mortgages for personal trainers

Self-employed personal trainer Mortgage solutions

This mortgage article is aimed at Mortgages for personal trainers that have an element of self-employed income and therefore make a tax return submission to HMRC.

As a Personal Trainer, you will be accustomed to putting together a programme to make your clients fit and safe. It will often be “bespoke” and always appropriate for the individual.

I’m a professional Mortgage Broker and much can be said of the Personal Trainers I help obtain mortgages.

Mortgages for Personal Trainers often involve bolting together income from various sources to obtain the maximum mortgage. It could be employed work from gyms and hospitals, and private freelance work on a self employed basis.

Behind the surface, this might include multiple hourly session contracts, be held as a sole trader or limited company basis with your own employees.

Mortgage Lenders have different appetitites to self employed earnings particulary if the books are up and down – which in all honesty is typical of most businesses. I dont need to tell you that Personal Trainer work can fit in with sporting seasons particularly if you focus on certain customer types. These peaks and troughs throughout the calander and year on year can make it hard for a mortgage lender to decide on the basis of their lend – it’s a detractor – and to be safe some edge towards the lowest common denominator – the result for you could be a “shed” rather than a “palace”.

Some Personal Trainers chose to work abroad for part of the year. For instance, priming altheletes at high altitude or providing routines to top hotel guests. This could again be problematic for mortgage lenders as the income could be in a different currency and some need you to be permanently based in the UK for a few years prior to application. You also want a mortgage suitable for letting if you are to be out of the country for a long period.

As you can see it can get complex quite quickly to get Mortgages for personal trainers.

My company Niche Advice thrives on challenges and here are examples of the types of mortgages we can arrange from our panel of over 80 lenders:

• Self employed using the latest net profit figures.
• Self employed using average earnings across previous years.
• Self employed trading just a year.
• Self-employed and employed earnings added together.
• Limited Company using drawn salary and dividends.
• Limited Company using profit before tax plus salary.
• Contractors using hourly or daily rates.
• Mortgages or remortgages for properties to rent out i.e. buy to let.
• Ex pat mortgages.
• Mortgages for applicants returning to the UK.

Niche Advice arranges mortgages for Personal Trainers. For more information please complete our contact form on this website.

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Payam Azadi

Author: Payam Azadi

Payam Azadi is a partner at Niche Advice who are whole of the market Independent Mortgage Brokers. His role is very much focused on Property financing both on residential and commercial lines. To get in contact with him please click here.
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Filed Under: Self Employed Mortgages

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AS A MORTGAGE IS SECURED AGAINST YOUR HOME OR PROPERTY, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS.

If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

Niche Advice Limited is a Credit Broker and does not lend money directly to clients. Niche Advice Limited is authorised and regulated by the Financial Conduct Authority. FCA Number: 750263.

Commercial Buy-to-Let and commercial mortgages are not regulated by the Financial Conduct Authority.

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Correspondence Address: Niche, Unit F6, The Addington Business Centre, Vulcan Way, New Addington, Surrey CR0 9UG.

A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 0234567.

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