Four-fifths (79%) of non-PAYE workers such as freelancers, self-employed individuals, and gig economy workers have homeownership plans for the future according to the latest research from The Mortgage Lender, a specialist lender (TML).
Within this group, a fifth (22%) have plans to buy their first home, whilst well over a tenth are aiming to become a landlord (14%) or plan to buy their second home (11%). And a further one in ten (9%) plan to either sell their property or downsize.
Of those with plans, a majority (73%) of non-traditional workers are optimistic about achieving their homeownership plans in the next five years, with almost a third (29%) saying they are ‘very optimistic’ and well over two-fifths (44%) saying they were ‘somewhat optimistic’. This positivity is especially pronounced in the younger generation, with 84% of 18-24 year olds being optimistic about their property plans in comparison to 78% of 25-34 year olds, and 70% of 35-44 year olds. Read the full article here