Freelance Borrowers Face Being ‘Locked Out’ of the Mortgage Market
Freelance borrowers face being effectively ‘locked out’ of the mortgage market by lending restrictions which would force them to raise a £100,000 deposit. Major lenders have started cracking down on freelancers as part of their own risk-aversion strategies. Santander have blocked mortgage applications from freelancers unless they have a deposit of at least 40%. The…