It has long been believed that self-employed people always got the short straw when it came to getting a mortgage, however mortgage lenders are not as put off as we thought.
According to data from the Office for National Statistics (ONS) there were more than five million self-employed people in the UK in the last quarter of 2019, constituting more than 15% of the working population, compared to 3.2 million in the year 2000.
In an interview with Yahoo Finance UK, business development director at Hodge Bank, Emma Graham, said: “I don’t think it [being self-employed] makes a big difference these days, it is just as easy to get a mortgage if you’re self-employed than if you were employed.
“Going back a generation ago it was quite tricky, some of the requirements were quite onerous, but self-employment is ever-growing and more popular.
“The challenges can come if you are newly