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The self-employed struggle for a mortgage more than those with bad credit


Just 76% of self-employed applications are approved, far less than those with bad credit (89%), Trussle’s Mortgage Saver Review found.


Those at a high loan-to-value had more success, at 85%, first-time buyers had a 90% approval rate, while the retired were accepted 86% of the time.


Miles Robinson, head of mortgages at Trussle, said: “The government encourages entrepreneurship, but the mortgage industry is not keeping pace with how fast the self-employed sector is expanding.


“This group is being let down time and time again with a challenging and confusing mortgage journey, which is resulting in less mortgages being approved by lenders.


“Enough is enough. The industry must work collaboratively to update its requirements and close this “mortgage access gap” to support the self-employed.

“We’re using our own data to design flexible products for specific under-served groups, like the self-employed. This will be a significant step in our commitment to making mortgages fairer for all.”


The self-employed demographic makes up a significant part of the UK workforce.

Since Trussle’s inception in 2015 to date, it has seen 54% more mortgage applications from the self-employed, compared to any of the other groups mentioned.

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