Average self-employed applicant earns nearly double


The average self-employed mortgage applicant earns £57,592, which is nearly double the average earnings for an employed worker.

At Pepper Money, we analysed our mortgage completions to just under 1,000 self-employed borrowers in 2018, compared to the latest median full-time earnings published by the ONS, which puts the average employed income at £29,588.

Paul Adams, Sales Director at Pepper Money, said: “Self-employed clients tend to be more interesting cases given the diversity in the way that business owners draw their income.

“On top of this, our analysis shows that, on average, self-employed borrowers earn double the amount earned by full-time employees. So, not only are self-employed cases more common, there is also an opportunity to offer higher value loans where the financial assessment shows it to be affordable.”

The growth of self-employment has been a prominent characteristic of the UK economy in recent years and it’s now easier than ever to find a home for your interesting cases. At Pepper Money, we grew our self-employed lending by 87% in 2018 alone, so this is an opportunity not to be missed by brokers.

To find out more about our product range designed specifically for those interesting cases click here.


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