You get a 3 for 2 deal in this episode as Georgie and Pierce are joined by Austin from Mortgages for Actors, the original, performing arts and entertainment-specific, dedicated mortgage advice service. Austin is a Financial Advisor to the Entertainment Industry specialising in Life Insurance, Mortgages and Wills.
Georgie and Pierce get the financial lowdown from Austin on what services Mortgages for Actors can offer to all types of jobs not only in acting but all across the entertainment industry, how one gets a mortgage, what information needs to be provided, what lenders like to see and be assured of and how to protect your house and mortgage once it has been achieved.
KEY TAKEAWAYS
- Mortgage for Actors will take a detailed financial history from you and approach insurance services directly to source the services that are appropriate to you, your job and your circumstances.
- Mortgage for Actors can identify the problems that may be sticking points for potential lenders and deal with them.
- Due to the number of lenders available the requirements can differ greatly so direct communication and negotiation to assure clarity of your financial position can reassure lenders into giving you a mortgage.
- To increase your credit score and better your chances of a mortgage make sure that any debt you have you make sure you set up a payment at least for the minimum amount required so you never miss a payment.
- If you are a sole trader or limited company consider setting up a business account through which you can summarise your financial position.
- Consider Insurance as Property Insurance is often mandatory for getting a mortgage and also insure against potential income loss.
BEST MOMENTS
‘We saw that there were a lot of problems in the entertainment field especially since lockdown happened and all the income really struggled to come in.’-Austin
‘I think I speak for a lot of actors when I say the thought of something like home ownership seems so off the table because no one’s ever going to give you any kind of mortgage.’-Pierce
‘Lenders really do want to lend but they are very restricted by the people that fund them.’-Austin
‘Obviously, I can’t tell you to work more because every actor in the world wants more work but the more consistent you are the easier it is to show someone how much you earn.’-Austin
‘We try and touch on everything so you know that it’s there. Why not spend that extra bit of money to insure yourselves really well so that if anything happens you’re still spending every month that you thought you were anyway?’-Austin
VALUABLE RESOURCES
https://chat.whatsapp.com/LUWz5ZlIg0sH0F27Zs7Cnq
https://www.actorswarehouse.co.uk/
https://Www.instagram.com/Actorswarehouse/
https://Twitter.com/Weareacting/
ABOUT THE HOSTS
Georgie King and Pierce Connelly are a couple and business partners with experience in TV, film and theatre. Co-founders of The Acting Warehouse, an organisation dedicated to helping you achieve turning your passion for acting into a full-time career, they are here to guide you to get out there, find opportunities and land roles.
CONTACT METHOD
Email: Contact@actorswarehouse.co.uk
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