OnlyFans Subscriptions Could Get You Denied For Home Loans
I had never even heard of OnlyFans until COVID hit, then it was everywhere, and if you hopped on the OnlyFans train, mortgage advisors are warning that those subscriptions could get you denied for home loans.
Glen Russell, director of Russell Financial Solutions LTD said: “I have seen rising numbers of Only Fans customers turned down for mortgages due to the consistency of transactions on statements.”
However, Russell said that the banks aren’t hesitant because of what the payments are for (AKA they don’t care what what you’re watching), but that it’s more to do with how many recurring transactions you have. Russell says that some fans on the site don’t just have one subscription, but many, and it causes mortgage lenders to see them as regular outgoing payments which could be a liability.
@pfsmortgages Can’t believe this has just happened!!! #mortgagelife #mortgagebrokeroftiktok #mortgageuk
♬ Holiday - KSI
Russell’s advice is to be open and transparent with your lender and let them know you actively subscribe to the site, no matter how awkward it could be.
SOURCE: LADBible
OnlyFans Subscriptions Could Get You Denied For Home Loans
