Ask anyone trying to get a foot on the housing ladder "How's it going?" and they'll probably explain how hard and complicated the process is. From finding somewhere they like, in the area, they like to saving for a deposit and securing a mortgage.
According to recently released research from online mortgage broker, Trussle, self-employed borrowers are struggling to get mortgage applications approved by lenders, resulting in an ‘access gap’ compared to those with more ‘traditional’ employment.
The majority of self-employed workers in the UK, some 71%, believe it’s harder for them to get a mortgage and blame unfair application processes.
Home lenders are failing self-employed people who want to buy a home and more needs to be done to make sure they can get a mortgage, according to a new report.
The latest Aldermore research has found that almost two thirds of of self-employed people do not know how they will manage to buy their first home.
Aldermore also found that a third of recent first time buyers say they had to give up being self-employed to get a mortgage.
Opt in here