Many yacht crew have a misconception of how simple and straight forward buying a property and getting a mortgage in the UK can be. Experience has shown that a number believe that if they have a job and an income they can get a mortgage. Unfortunately it is not that easy!
UK mortgage lenders have specific requirements and criteria when considering somebody for a mortgage, and the criteria is even more restrictive for those paid in a currency other than GBP. It is for this reason that it is crucial to invest some time and effort into making the necessary preparations ready for when a purchase opportunity arises.
Waiting until you have found a property to start thinking about the mortgage you need to buy it notoriously results in disappointment, or an elongated process whilst the various preparations are made and relevant documents and information collated.
It’s time to engage with a professional to set you on the best course for success
It is therefore recommended that yacht crew engage with a mortgage adviser at an early stage, so that any preparation can be done to get ‘mortgage ready’ well ahead of the time when a mortgage is needed.
Not only will the mortgage adviser be able to explain the different type of mortgage and answer any questions you may have, they will also be able to provide advice, hints and tips on how best to prepare yourself to have the best possible chance of getting the mortgage you need.
Crew FO have partnered with an experienced mortgage broker and their advisers understand the challenges faced by yacht crew when it comes to buying a property in the UK and getting a mortgage.
They will be happy to discuss your circumstances and future requirements with you at no obligation so that you are ready when the time comes to buy.
If you’re a CrewFO member, and would like further support on securing a better financial future, log in and reach out!
If you are not a member, below are our contact details:
Email us at: hello@crewfo.com 📧
Call us on: +44 203 538 8622 📲
At Crew Family Office, we are here to help Superyacht crew navigate their finances and make the right decisions.
For more of our financial services, designed for Superyacht crew, take a look here.