About The Author

mortgage broker damian youell



See some of Damian’s client reviews below

Damian is an experienced mortgage broker, founder of NeedingAdvice.co.uk Ltd and company director. With over a decade working as a mortgage broker he has a strong understanding of hard to place mortgage cases. With hundreds of 5 star client reviews. hundreds of repeat clients his work speaks for himself.

He started NeedingAdvice.co.uk as a one man band with the philosophy of putting clients needs ahead of his own. This ethos of offering excellent customer service has helped the business grow over the years. He gets satisfaction on getting cases pushed through to offer stage where other mortgage broker and companies have failed.

Throughout his time as an adviser he has carved out a niche area of advice helping clients with their business protection requirements too. Having helped hundreds of client with Relevant Life Policies, Shareholder Protection Insurance, Keyperson Policies and other important protection requirements of large to small businesses.

At home he is a family man and likes to spend his time with his four children and wife Lisa. He enjoys going on holidays spending time with friends and going for walks.

As professional rugby players, you’re accustomed to tackling opponents on the field, strategising for victory, and pushing your limits. But when it comes to securing a home, the game changes. Enter the world of mortgages—a playing field where understanding the rules and having the right team can make all the difference.

This comprehensive guide explores the unique challenges and opportunities faced by rugby players seeking a mortgage. From handling irregular income streams to leveraging your athletic career for favourable terms, we’ll break down the scrum of real estate financing. Whether you’re a seasoned veteran or a rising star, this article will equip you with the knowledge to score big in the housing market.

Post Topics

Mortgage Advice For Professional Rugby Players

A Rugby player’s income

How do lenders treat Rugby contract income?

What age could I borrow until on rugby player mortgages?

What documents would I need to provide to get a mortgage as a professional rugby player?

How much time must be left on my contract for a lender to agree to lend to me?

Next Steps

FAQs

Damian Youell

Feel Free To Start WhatsApp Chat With Us...

How We Work

1: We contact you and take down your details, income outgoings, name, address etc.

2: We will research the whole market and email you a detailed quote as well as a list of documents to proceed.

3: You upload the documents and information needed via our channel our online portal.

Feel Free to Contact Us

Mortgage Advice For Professional Rugby Players

Our mortgage advice services cater specifically to professional rugby players, ensuring they can secure mortgages for residential, buy-to-let, and commercial properties in the UK. We understand the unique financial circumstances of professional athletes and offer tailored solutions to meet their needs.

Through our partnerships with agents and players, we have built strong connections with lenders specialising in lending to professional rugby players. These lenders are familiar with athletes’ fluctuating incomes and can provide flexible options to accommodate their financial situation. With our expertise and lender connections, we can help rugby players navigate the mortgage market and find the best deals available.

One key benefit we offer is utilising media and advertising income to enhance borrowing power. Professional rugby players often have income streams beyond their sports contracts, such as endorsement deals and media appearances. We work closely with lenders to consider these additional income sources, allowing players to increase their borrowing power and access better mortgage options.

Whether it’s a residential mortgage to purchase a family home, a buy-to-let mortgage for investment properties, or a commercial mortgage for business ventures, our mortgage advice services for professional rugby players ensure they have access to the right financial solutions. With our expertise and industry connections, we strive to make the mortgage process easier and more favourable for rugby players.

A Rugby player’s income

As a professional rugby player, your income isn’t just about scoring tries—it’s a complex game with multiple players and rules. Let’s break down the financial scrum and explore how your earnings come together.

1. Contract Terms and Base Salary

Your contract with the club sets the stage. Within those pages lie the financial obligations for both you and the team. Here’s what matters:

  • Base Salary: Negotiated based on your experience, performance, and position, your base salary forms the backbone of your income. It’s the regular paycheck that arrives monthly or bi-weekly.
  • Bonus Clauses: These are the exciting extras. Did you win a championship? Earn personal accolades? Your contract may include bonus clauses that reward exceptional achievements—both individual and team-based.

2. Income Multiples and Borrowing Capacity

Now, let’s talk numbers. Not every lender treats rugby players equally. But some recognise your unique position. Here’s how:

  • Income Multiples: Lenders use these to assess borrowers’ borrowing capacity. Higher-income multiples may apply to players earning over £100,000 per year. Translation: You could qualify for larger loan amounts compared to those with lower incomes.
  • Risk Perception: Lenders view rugby players as both strong contenders and higher-risk borrowers. Why? The nature of your profession—physical demands, potential injuries—adds complexity. Brace yourself for a financial tackle.

3. The Deposit Dilemma

Ah, the deposit—the upfront payment toward your dream home. Here’s where lenders play defence:

  • Higher Deposit: Some lenders require it to mitigate risk. They want you to have skin in the game. So, if you’re eyeing that try-worthy property, be prepared to put down more.

Income as a rugby player is a dynamic mix of contract terms, base salary, and bonuses. Lenders may offer favourable terms, but they’ll also scrutinise risk factors. So, whether you’re sprinting down the field or house-hunting, play smart and secure your financial try!

How do lenders treat Rugby contract income?

Due to the unique nature of professional sports contracts, lenders treat rugby contract income differently than other types of income. When assessing the creditworthiness of a rugby player, lenders consider several factors to determine the stability and reliability of the income. These factors may include the length and terms of the contract, the player’s injury history, their reputation and standing within the rugby community, and the financial health of the team or organisation they are affiliated with.

One option available for rugby players with additional income sources is to provide evidence of these earnings. This can be done by presenting advertising and sponsorship contracts or any other documentation that proves the existence and value of the income. Some lenders may consider this additional income when determining the player’s borrowing capacity, potentially enhancing their chances of securing favourable loan terms.

However, there are limitations and requirements for declaring additional income sources like advertising and sponsorship. Lenders typically require players to provide proof of a consistent and verifiable earnings history from these sources. The income must be stable, predictable, and likely to continue in the future. Moreover, lenders may impose restrictions on the ratio of rugby contract income to advertising/sponsorship income, ensuring that the player’s overall income remains well-balanced and sustainable.

Mortgage lenders treat rugby contract income differently, considering various factors such as contract terms and the player’s reputation. Rugby players can supplement their income with additional sources, but lenders require evidence of stable and reliable earnings. These considerations are essential to assess the creditworthiness of rugby players and determine their borrowing capacity.

What age could I borrow until on rugby player mortgages?

Age limitations for rugby player mortgages vary depending on the lender. Generally, lenders consider several factors when determining the borrowing age for rugby players. These factors include the player’s current age, the length of their rugby career, salary and earnings potential, and overall financial stability.

Regarding age limitations, most lenders hesitate to provide mortgages to rugby players beyond a certain age. This is primarily because a player’s income decreases after retiring from professional rugby. Therefore, lenders typically require borrowers to have a retirement plan in place and demonstrate potential income sources after retiring from their rugby career.

Having a retirement plan is of utmost importance for rugby players. It not only ensures financial security in the long term but also increases the chances of being able to borrow until a later age. By showcasing potential income sources post-retirement, such as investments, businesses, or endorsement deals, rugby players can assure lenders of their financial stability and ability to repay the mortgage.

Furthermore, pursuing a career in rugby coaching can also improve the chances of borrowing until a later age. Coaching offers a stable income and allows retired players to remain involved in the sport. Other career options that lenders may consider include sports commentary, sports management, or sports journalism.

The age until rugby players can borrow on mortgages depends on various factors. Having a retirement plan and demonstrating potential income sources after retiring from professional rugby is crucial. Pursuing careers like rugby coaching can also increase the chances of borrowing until a later age.

What documents would I need to provide to get a mortgage as a professional rugby player?

As a UK mortgage broker, I can guide you through the documents you’ll need to provide when applying for a mortgage as a professional rugby player. Let’s break it down in simple terms:

  1. Proof of Income:

    • Recent Payslips: Show your most recent payslips to demonstrate your regular income.
    • Employment Contract: Your contract with the rugby club outlines your salary, bonuses, and employment terms.
    • Bonus Documentation: If you receive performance-based bonuses, provide evidence of these.
  2. Bank Statements:

    • Typically, lenders ask for the last three to six months of bank statements. This helps them assess your financial stability and spending habits.
  3. Proof of Identity and Address:

    • Passport or Driving License: To verify your identity.
    • Utility Bills or Council Tax Statements: These confirm your current address.
  4. Credit History:

    • Obtain a copy of your credit report. Lenders will review your credit history to assess your creditworthiness.
  5. Proof of Deposit:

    • If you’re depositing, provide evidence of the funds in your bank account.
  6. Additional Documents:

    • Some lenders may request extra documents, such as tax returns (especially if you’re self-employed), proof of residency status, or details of other income sources.

Remember that requirements can vary between lenders, so checking with a mortgage broker or lender directly is essential. They can guide you through the specific documents needed for your individual circumstances.

How much time must be left on my contract for a lender to agree to lend to me?

When you apply for a loan, lenders consider several factors before deciding whether to approve your request. One crucial aspect that lenders analyze is the amount of time left on your contract. The length of your contract plays a significant role in their decision-making process.

Some lenders require a permanent position as a prerequisite for lending, ensuring the stability and security of your income. However, other lenders are more flexible and may accept fixed-term contracts as long as you have a certain amount of income history.

Lenders primarily consider contract length to assess your ability to repay the loan. If your contract is about to expire soon, it may raise concerns about the continuity of your income source. Lenders prefer individuals with long-term contracts as they indicate a more stable financial situation and reduce the risk associated with repayment.

Additionally, the length of your contract can also influence the terms and conditions of the loan. Lenders may offer more favourable interest rates and loan options to applicants with longer contract durations.

When seeking a loan, it is essential to have sufficient time left on your contract. While some lenders may demand a permanent position, others are willing to work with fixed-term contracts if you can demonstrate a reliable income history.

Next Steps

Are you a rugby player interested in starting on the property ladder in the UK ? Here are some steps to take:

1. Gather all necessary documents: Make sure you have your bank statements, proof of identity and address, credit history, proof of deposit, and any additional documents that lenders may require.

2. Check with a mortgage broker or lender: Each lender may have different requirements for professional athletes like rugby players. You must check directly with a mortgage broker or lender to understand what documents you need and the terms they may offer.

3. Ensure your contract has enough time left: Lenders prefer individuals with long-term contracts as they indicate a more stable financial situation. Ensure your contract has sufficient time left to increase your chances of approval.

4. Consider working with a specialist lender: Some lenders specialise in providing mortgages to professional athletes and footballers, including rugby players.

Damian Youell

Feel Free To Start WhatsApp Chat With Us...

How We Work

1: We contact you and take down your details, income outgoings, name, address etc.

2: We will research the whole market and email you a detailed quote as well as a list of documents to proceed.

3: You upload the documents and information needed via our channel our online portal.

Feel Free to Contact Us

FAQs

How do lenders assess income from rugby and football contracts?

Mortgage lenders typically consider various sources of income, including basic income from contracts, team bonuses, income from advertising or endorsements, and other supplementary sources. They evaluate the stability and consistency of the income over time to determine borrowing power.

What age restrictions apply to borrowing for professional sportspeople?

The age criteria for borrowing vary among mortgage lenders and depend on factors such as the type of mortgage and the borrower’s financial situation. However, as a professional footballer or rugby player, access to lenders who understand the unique financial profiles of sports professionals can help navigate age restrictions.

Can sports agents assist in managing mortgages for athletes?

Sports agents can play a vital role in facilitating mortgage processes for professional athletes by providing financial advice, connecting them with qualified mortgage advisers, and offering protection advice. They can assist in ensuring a smooth mortgage application process and access to lenders specialising in mortgages for sports professionals.

Are buy-to-let mortgages accessible for professional rugby and football players?

Professional footballers and rugby players can access buy-to-let mortgages to invest in commercial properties or build property portfolios. Working with a commercial mortgage broker or an independent mortgage adviser can help secure suitable financing options tailored to their needs.

What challenges do professional athletes face when applying for mortgages?

Professional athletes may encounter unique challenges such as sporadic income, short-term contracts, or irregular sources of income from team bonuses or endorsements. However, with the guidance of a qualified mortgage adviser familiar with the finance industry, tailored solutions can be devised to address these challenges.

How much time must be left on a player’s contract for mortgage approval?

Mortgage lenders typically consider the duration of the current contract when assessing borrowing capacity. While longer-term contracts may offer more stability, access to lenders specialising in mortgages for sports professionals can provide flexible lending criteria tailored to individual financial situations.

Which documents are required for mortgage applications as a professional athlete?

Mortgage applicants, including professional footballers and rugby players, must provide documentation such as employment contracts, proof of income, credit files, and details of any additional income sources, including rental income or income from advertising.

Are there specialised mortgage deals or providers for sports professionals?

Yes, mortgage lenders and private banks offer specialised mortgage products designed specifically for sports professionals. These lenders understand the financial challenges and unique income profiles of athletes and provide larger mortgages with competitive rates and flexible terms.

How do joint mortgages work for professional athletes?

Joint mortgages allow professional athletes to pool resources with a partner or co-borrower to secure a mortgage for residential or commercial properties. Working with an experienced mortgage adviser ensures access to lenders who understand the complexities of joint mortgage applications for sports professionals.

What determines the borrowing capacity of professional sportspeople?

The borrowing capacity for professional athletes is determined by various factors, including their annual income, times income multiples, credit score, employment contracts, and additional income sources such as team bonuses or advertising income.

Can future earnings be considered as collateral for a mortgage?

While future earnings from contracts or endorsements may not typically serve as direct collateral for mortgages, they can be factored into the overall assessment of borrowing capacity by mortgage lenders who specialise in catering to professional footballers and rugby players.

What are the implications of relocation for existing mortgages for sports professionals?

Relocation for professional sportspeople may impact existing mortgages, particularly if it involves changes in income or employment contracts. However, working with a knowledgeable mortgage broker ensures access to lenders who understand the complexities of relocation and can provide tailored solutions to mitigate any financial challenges.

Damian Youell

Feel Free To Start WhatsApp Chat With Us...

How We Work

1: We contact you and take down your details, income outgoings, name, address etc.

2: We will research the whole market and email you a detailed quote as well as a list of documents to proceed.

3: You upload the documents and information needed via our channel our online portal.

Feel Free to Contact Us