If you subscribe to OnlyFans or similar subscription-based content creator platforms, you may be wondering if this will affect your chances of getting a mortgage. We’ll look at how your monthly spending habits can impact a mortgage application, and what to take into consideration when applying for a mortgage while paying out hefty subscription fees.
Does having an OnlyFans subscription affect getting a mortgage?
No, having an OnlyFans account, whether as a subscriber or a creator, won’t directly impact your chances of getting a mortgage. Due to the nature of some of the content available on this platform, people often believe that banks will be judgmental of those who hold accounts of this type.
However, aside from the fact that not all content on OnlyFans is of an explicit nature, in reality, UK financial institutions do not base their decisions on moral factors, unless they suspect a link to criminal activity. What banks and mortgage lenders are concerned with is affordability and creditworthiness.
Does it show up on your bank statements?
Yes, the names of any subscription services you hold tend to show up on your bank statements. Whether it’s Netflix, your gym, or an OnlyFans account, modern bank statements record this data, so when you show your bank statements as part of your mortgage application, payments to these services will be visible to the lender.
Payments to the subscription service typically show up as "OnlyFans" or sometimes as "Fenix International Limited," the parent company of the platform. But, don’t worry, mortgage lenders are non-judgemental and so are mortgage brokers such as ourselves.
When it can be an issue
While purely having an OnlyFans account won’t impact your mortgage application, this type of subscription can become problematic when a significant chunk of your income is being spent on them. Lenders are mostly concerned with how responsible you are with your money and whether you will be able to maintain your loan repayments.
If you’re spending a lot each month on OnlyFans content or any other type of subscription service, this will be seen as a regular outgoing. This means that when your income and expenditure are assessed, lenders may reduce the loan amount available to you.
Most mortgage lenders ask for at least 3-6 months' worth of bank statements when you apply for a mortgage, and potentially more if you’re self-employed. One way to maximise your affordability is to plan ahead of your mortgage application and reduce or cancel any non-essential outgoings, such as subscription services, a few months before you apply.
If you’re concerned about affordability, mortgage brokers, like ourselves, will be able to search the market for those lenders willing to offer the highest loan-to-value for your circumstances. Get in touch below for a no-judgment chat with our team.
Speak to a mortgage affordability specialist
Can you get a mortgage based on OnlyFans income?
Yes, it’s possible to get a mortgage with income that you earn from OnlyFans and similar content creation platforms. While not all high street lenders will be familiar or comfortable with this form of self-employed income, there are specialist mortgage lenders who will consider this modern form of income.
As with any self-employed mortgage application, you’ll need to prove the stability of your income, so the more evidence of long-term earnings from this source, the better your chances will be. It can also be easier if you have multiple income streams, as this reduces the risk in lending to those without a guaranteed monthly salary.
If you are declaring OnlyFans income on a mortgage application, it’s a good idea to speak to a broker before you begin so they can pair you with a lender that accepts it - get started here to book a free, no-obligation chat with an adviser who specialises in complex income.