Why the High Street Doesn’t Always Work

For most borrowers in the UK, the high street is the natural first port of call when seeking a mortgage. The big banks have household names, straightforward processes, and often competitive rates. But for athletes and entertainers, these advantages quickly dissolve into obstacles.

The problem is structural. High street banks are built to serve mainstream borrowers—salaried employees, steady incomes, predictable tax returns. Athletes and entertainers sit firmly outside this profile. Their income is irregular, often international, and typically compressed into short career spans. Add in sponsorships, image rights, and company structures, and the application falls far outside the neat underwriting models used on the high street.

The result is predictable: many athletes and entertainers are either declined or offered lending terms that fail to reflect their true financial strength.

What the High Street Really Sees

High street lenders rely on automated affordability models. These models look for regular payslips, P60s, and steady salary history. When an athlete presents a club contract paid in euros or a musician submits royalty statements from multiple jurisdictions, the system struggles.

In practice, this means several things:

• Foreign income is heavily discounted. Even large contracts paid abroad are often reduced by 20–30% to account for exchange-rate risk.

• Short-term contracts are treated as unreliable. A three-year football contract worth millions may be ignored after year one.

• Royalties, sponsorships, and dividends are disregarded. Unless income is paid as a regular salary, high street banks frequently treat it as unsustainable.

For entertainers, this often leads to absurd situations where successful actors, musicians, or performers with multimillion-pound global income are told they can borrow less than a salaried professional earning a fraction of their income.

Private Banks: A Different Philosophy

Private banks approach lending in a fundamentally different way. Where the high street sees risk, private banks see opportunity—provided the client’s overall financial profile is strong.

A private bank will not simply run numbers through a model. Instead, they look holistically: the borrower’s net worth, assets under management, long-term career prospects, and the quality of contracts or sponsorship agreements. If a footballer has substantial investments or if a musician has a history of successful tours, this narrative becomes part of the lending decision.

This bespoke approach is why private banks are increasingly the lender of choice for elite clients. For athletes and entertainers, it often represents the only realistic path to securing the property they want in prime locations.

How Private Banks Assess Athletes and Entertainers

In 2025, private banks use underwriting models designed for complexity. They are prepared to review foreign tax filings, analyse multi-currency income, and accept documentation from accountants or agents. Importantly, they often view short careers not as a barrier but as a factor that can be mitigated through wealth and protection strategies.

Take the example of a tennis player with annual earnings of £4 million spread across prize money, sponsorships, and appearance fees. A high street lender might only count the sponsorship income, reducing borrowing capacity. A private bank, by contrast, would consider the full portfolio—provided contracts are clear and future earnings potential can be evidenced.

Similarly, an actor with inconsistent but high-value projects might struggle on the high street, where irregularity is penalised. A private bank would instead examine long-term earning patterns, asset base, and even potential inheritance, offering lending based on the broader picture.

Why Protection Still Matters

One of the reasons private banks can be more flexible is that they rely heavily on mitigations such as protection strategies. As we explored in Protection for Athletes & Entertainers: Safeguarding Mortgages in 2025, lenders are reassured when income risks are backed by comprehensive insurance.

For athletes with short contracts, income protection and life cover demonstrate that repayments will continue even if careers end abruptly. For entertainers, critical illness cover provides the same reassurance. Private banks are willing to lend on complex income precisely because these protections reduce their exposure.

The Role of Assets Under Management

Another reason private banks dominate in this area is the role of assets under management (AUM). Unlike high street lenders, private banks often ask clients to place a percentage of their wealth—such as cash deposits or investment portfolios—under their management in exchange for favourable mortgage terms.

For high-net-worth entertainers and athletes, this is often attractive. Not only does it unlock lending, but it can also provide access to wealth management, concierge services, and international banking facilities. For the bank, it creates a long-term relationship; for the client, it secures bespoke mortgage finance that would never be possible on the high street.

A Practical Example

Imagine a Premier League striker earning €5 million annually with three years left on his contract. He wishes to buy a London home for £8 million.

A high street lender might accept only a fraction of his euro income, apply a harsh haircut for exchange-rate risk, and ultimately decline the loan due to the short-term nature of the contract.

A private bank, however, would assess the broader position. They would review the player’s investment portfolio, consider potential sponsorship renewals, and request evidence of protection policies. In return, they might offer 75% LTV—on the condition that part of the player’s assets were transferred to the bank for management.

The difference is stark: one lender sees only risk, the other sees a wealthy client with multiple mitigations.

When Entertainers Benefit from Private Banking

The same principle applies to entertainers. A musician with royalties from streaming services, performance income from tours, and a publishing company might appear too complex for a high street bank. For a private bank, however, the income streams are simply part of a sophisticated financial picture.

In some cases, private banks even lend against anticipated future income. For example, a musician with a signed multi-year record contract may be able to secure lending today based on projected royalties and tour revenue, provided contracts are robust.

This level of understanding is absent on the high street but crucial for entertainers who want to leverage their peak earning years into long-term property wealth.

How Willow Bridges the Gap

At Willow Private Finance, we specialise in positioning clients for success with the right type of lender. That often means steering athletes and entertainers away from the high street early, saving time and avoiding disappointment.

Our role is to translate complexity into lender-ready applications. That involves consolidating multi-jurisdiction income, timing applications around career milestones, embedding protection, and introducing clients to the private banks most aligned with their profile.

We know which institutions are open to image rights income, which are comfortable with sponsorship contracts, and which require AUM transfers. By matching client needs with the right bank, we secure lending that reflects true financial capacity—not just what a computer model suggests.

Why the Shift to Private Banks Is Permanent

In 2025, the gap between the high street and private banks is wider than ever. As compliance pressures increase, high street lenders are tightening rather than loosening their criteria. Automated affordability systems leave little room for interpretation.

Private banks, meanwhile, continue to thrive on relationship-driven lending. Their ability to look beyond rigid models and assess the totality of a client’s wealth ensures they remain the natural partner for athletes and entertainers. For elite clients, the shift away from the high street is no longer a choice—it is a necessity.

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