Seven in 10 homeowning freelancers say at least one lender has refused to consider them for a mortgage because of their employment status, a new survey suggests.
More than half of self-employed people also said they felt penalised when applying for a home loan, while 96 per cent said they had to provide more paperwork.
A quarter of freelancers who had got a mortgage found the process somewhat or very difficult according to the Association of Independent Professionals and the Self-Employed and specialist self-employed mortgage broker, CMME Mortgages for Independent Professionals
Freelancers have had limited mortgage options during the pandemic, according to the survey
(Martin Clarke/Michelle Janikian via AP)
It has been a little over a year since I started my fight against California’s AB5: the so-called “Gig Workers” law that was supposed to right the wrongs of misclassification of 1099 Independent Contractors who should have been employees.
Authored by San Diego Assemblywoman Lorena S. Gonzalez-Fletcher (D-Chula Vista), and backed by powerful unions such as the AFL-CIO, what this law did was remove a person’s right to choose to work as an Independent Contractor, freelancer, or gig worker in the state.
My life as a freelance writer, reinvention coach, and Yoga instructor was upended, as were the lives and livelihoods of millions of other independent professionals, from translators and interpreters, to musicians and the theater community. Even after all this time, a new crop of professionals are discovering that they too fall under the heavy boot of this poorly crafted law.
| UPDATED: 17:13, Thu, Mar 4, 2021
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Mr Sunak presented his economic blueprint in the House of Commons yesterday as he aims to drive the UK s economic recovery. The country s public sector debt has exceeded £2.1trillion and the Government s COVID-19 bill has surpassed £400billion. Mr Sunak announced a tax hike on corporations yesterday – softening this with the additional sweetener of £25billion in investment incentives for businesses. The point people begin paying income tax will increase by £70 to £12,570 in April as a result of Mr Sunak s changes, which will stay at that
Trending Second, once we are on the way to recovery, we will need to begin fixing the public finances - and I want to be honest today about our plans to do that. And, third, in today s Budget we begin the work of building our future economy.
IPSE (the Association of Independent Professionals and the Self-Employed) has said it is “delighted” by the news, calling it a tremendous relief for freelancers in this group.
IPSE also welcomed the announcement of a fifth round of SEISS.
Derek Cribb, CEO of IPSE (the Association of Independent Professionals and the Self-Employed), said: “After almost a year, this support will be a tremendous relief to hundreds of thousands of self-employed people who could not access SEISS because they had not yet filed a full tax return.