New research from specialist lender The Mortgage Lender (TML) reveals that 28% of sole traders—self-employed individuals running their own businesses—have never tried to apply for a mortgage. This group is the least likely among the self-employed to pursue homeownership, often due to perceived barriers.
In fact, 38% feel their employment status has negatively affected their property ambitions, and 15% have considered abandoning their plans entirely.
Despite this, 68% remain optimistic about achieving their property goals within the next five years.
To understand the challenges—and opportunities—facing self-employed homebuyers today, read the full article.