A mortgage is one of the most major financial responsibilities a person will take on in their lifetime, but is essential for many in getting onto – and subsequently climbing – the property ladder. But once a person has secured their mortgage, keeping up with payments will be important, and this could be difficult amid income changes. This is a situation being faced by self-employed people, many of whom have seen their income vastly altered by the ongoing pandemic.
“It has been hard for everyone, but the self-employed feel as if they have been disproportionately hit by the pandemic, increasing personal debt and deferring mortgage payments just to get by.
“Nearly 60 percent of the people we asked felt their experience of the pandemic was worse than an employee and the majority didn’t receive any financial support from the Government.”
Challenges have seemingly been exacerbated by some self-employed people being ineligible for Government support measures such as SEISS – designed to help this group.
Some 57 percent of those asked said they had no Government support in the…
