The great news for budding entrepreneurs, is that in line with this trend, lenders are responding to this growing need.
Almost three in ten British workers now aim to become self-employed in the future, an increase of 14% from 2017. This represents a staggering five million people, which suggests the self-employed industry is on the brink of a revolution.
This new wave of ambition seems to be paying off, with over half of those currently self-employed revealing that they now earn more money than in their previous job. However there are still lingering concerns that self-employed people will struggle to get a mortgage when the time comes.
When asked about the process, seven in ten self-employed workers believed it was harder to secure a mortgage, with common concerns include having enough evidence to verify income, as well as a general feeling that lenders are less accommodating to those who are self-employed.
However, Oviso’s own experience is that they are finding lenders are now responding to these concerns by looking at more than just their criteria. Many are now considering each applicant’s circumstances on an individual basis, especially those with complicated borrowing scenarios who perhaps need more specialist support.
If you are self-employed, or simply want to discuss your general borrowing options contact Oviso Financial Services today, we help you to find the most appropriate lender based on your own financial circumstances.