Mortgages for Pilots, Airline Staff, and Cabin Crew
Speak to an Expert Advisor
Written by:
Alison Gibson
Ascot Mortgage Expert
Last Updated:
21.08.2024
Written by:
Alison Gibson
Ascot Mortgage Expert
Last Updated:
21.08.2024
Cabin Crew Income: The Inconsistent Earnings
Working as cabin crew brings its own set of financial quirks. Your income may vary significantly from month to month due to factors like flight hours, international layovers, and allowances. This income instability can make traditional mortgage lenders apprehensive. To overcome this challenge, it’s crucial to work with a lender who understands the aviation industry and can offer flexible solutions tailored to your unique income patterns.Pilots’ Pay and Salary: The Sky-High Earnings
Pilots often enjoy attractive salaries, but their careers come with demanding schedules and, at times, irregular paychecks. Some lenders may hesitate to approve a mortgage for pilots due to these fluctuations. However, a well-prepared pilot can present a strong case to secure a mortgage.Credit Concerns for Cabin Crew and Pilots
Maintaining a solid credit history is vital when applying for a mortgage. Unfortunately, frequent travel and international relocations can complicate this aspect of your financial life. It’s essential to address any credit issues before approaching lenders to improve your chances of approval.Mortgage Affordability Calculator
Use this calculator to determine how much you could potentially borrow for a mortgage, based on the typical salary multiples used by most UK lenders.
Get expert advice immediately if…
- You need to borrow more than 4.5 times your annual income
- You are only using one income on your application
- You earn income through sources such as Benefits, Commission or Rental income
- You consider yourself to be on ‘low’ income
If one or more of the above apply to you, it’s important to get expert advice before making an application. The right broker can help maximise your chances of approval based on your circumstance.
Finding the Best Lender: Your First Step
Selecting the right lender is the cornerstone of securing a mortgage tailored to your unique situation. Here are some key considerations to keep in mind when searching for the perfect lender.
Airline Staff and Cabin Crew-Friendly Lenders
Not all lenders are well-versed in the intricacies of cabin crew income. Look for lenders who specialise in mortgages for airline staff and cabin crew, as they are more likely to understand your financial situation and offer favorable terms.
Pilots’ Preferred Lenders
Pilots, with their distinct financial profiles, should seek out lenders experienced in working with aviation professionals. These lenders can appreciate your earning potential and create mortgage packages that suit your needs.
Mortgage Brokers: Your Best Allies
Engaging a mortgage broker can be a smart move. These professionals have extensive networks and can connect you with lenders who are most likely to approve your mortgage application. They can also negotiate on your behalf to secure the best terms.
Today’s best buy mortgages
Latest mortgage best buys
Based on a mortgage of £300,000 at 75% LTV and 25 years
| Speak with Us | Interest Rate | Mortgage Type | Monthly Repayment Amount | Total Fees | Max LTV |
|---|---|---|---|---|---|
 | 3.79% | Fixed | £1,174 | £30 | 75% |
| 4.09% | Fixed | £1,198 | £0 | 75% |
| 4.12% | Fixed | £1,210 | £1,499 | 75% |
| 4.24% | Fixed | £1,224 | £1,025 | 75% |
Securing Your Mortgage: Tips and Strategies
Now that you’ve identified the right lender or mortgage broker, it’s time to work towards securing your mortgage. Here are some actionable tips to increase your chances of approval.
Show Consistency in Income
Gather and present documentation that showcases your consistent earning potential. For pilots, this may include tax returns, pay stubs, and letters from your airline. Cabin crew members should provide income records that demonstrate stability.
Build a Strong Credit History
Address any credit issues proactively. Pay off outstanding debts, maintain a low credit utilisation ratio, and ensure your credit report is error-free. A good credit score will boost your mortgage application.
Save for a Significant Down Payment
A substantial down payment can work wonders in securing a mortgage. It reduces the lender’s risk and may lead to lower interest rates. Consider setting aside a portion of your earnings specifically for this purpose.
Explore Specialised Mortgage Programs
Some lenders offer specialised mortgage programs for aviation professionals. These programs may consider your future earning potential, making it easier to qualify.
Seek Professional Guidance
Don’t hesitate to consult with mortgage brokers experts. Their insights can be invaluable in navigating the mortgage application process successfully.
Alison Gibson is a seasoned mortgage expert at Ascot Mortgages, specialising in providing bespoke mortgage advice to professionals across the UK. To find your match and start your journey towards your ideal mortgage, you can reach out to us directly at 01925 711558 or send an enquiry through our website.
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Ascot Mortgages authorised and regulated by the Financial Conduct Authority and can be found on the FCA register (www.fca.org.uk) under reference 776062. The FCA do not regulate some forms of mortgages. The guidance and advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. There may be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate it will be £599 per mortgage account. Ascot Mortgages Ltd give you the option to pay a non-refundable fee of £1299 payable with the application. If this option is taken, Ascot Mortgages Ltd will refund any procuration fee received by the lender.
Ascot Mortgages Limited is registered in England and Wales and have their registered office at 8 Webster Court, Westbrook, Warrington, WA5 8WD. The company’s registration number is 06764971.
We are a credit broker, not a lender. We work with the whole of the lending market. We may receive commissions that will vary depending on the lender, product, or other permissible factors. The nature any commissions model will be confirmed to you before you proceed.
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