Self-employed: Why all the excitement?
Martin Reynolds, CEO of SimplyBiz Mortgages, talks self-employment and why it's previously been a tricky subject for lenders.
The self-employed sector seems to be flavour of the month in the mortgage market at the moment.
Precise has been on a very vocal campaign during the past 12 months on this subject and Kensington has been hot on their heels with its own promotion, including advertising on Talk Sport. So, what’s all the fuss about?
Data produced by ONS shows there are over 4.6m self-employed people in the UK, which is 15% of the workforce. This stat alone shows why the self-employed market is important; but stopping here would not make for a very interesting blog! Why would any lender knowingly exclude itself from 15% of the potential population? All will state they are not, but a quick glance at their criteria shows they are being a little selective.
To read this article in full, please click here