If you do not have any other taxable income streams in the UK, in addition to your earnings from yachting, then the answer may be yes!
Make Use of Your Tax-Free Allowance
Yacht crew can consider investing some of their hard-earned funds into buying a rental property in the UK. You could potentially use your ‘personal tax allowance’ to get the first £12,570* of any rental income you receive from it tax-free.
Although many yacht crew are required to submit a UK tax return at the end of each financial tax year, the majority are likely to qualify for Seafarers’ Earnings Deduction (SED). This means you do not need to pay tax in the UK on your earnings from yachting.
Can Crew Get a Mortgage in the UK?
Many yacht crew are unlikely to have sufficient funds to buy a property outright, and it is at this point in the journey that specialist advice becomes important. A mortgage broker who understands the challenges faced by yacht crew trying to get a mortgage in the UK.
Those working in yachting and being paid in a ‘foreign currency’ can often feel lost or restricted when trying to get a mortgage, whether it be for an investment property to rent out or for a residential property to live in. It is for this reason that CrewFO have partnered with a specialist mortgage broker who has assisted hundreds of yacht crew to buy property in the UK.
The specific and personalised advice and guidance provided by the broker can be priceless in the early stages if you are thinking about buying property in the UK. *UK nil-rate allowance 2025-26
CrewFO have been partnered with an experienced mortgage broker for many years and their advisers fully understand the challenges that can be faced by yacht crew. The advisers are happy to discuss your personal situation and your future plans with you at no obligation, so that you can prepare in the best possible wayto invest in properties like these: