Complex income and the rise of part-time workers


In 1975, 8.7% of the working population was self-employed according to Office for National Statistics. Today, self-employment accounts for 14.7% of the working population.

The number of part-time workers in the UK has also grown to 8.58 million in April 2018, compared to 6.03 million when records began in 1992 – an increase of 42% in the last 26 years.

Some of this growth, particularly in recent years, has attracted controversy with the increasing use of zero-hour contracts raising questions about the exploitation of workers. However, median weekly earnings for part-time workers, from all income sources, have increased more than for full-time employees.

So why is this important?

With a growing number of part-time workers receiving income through various sources, it’s important to choose a lender that can consider their full circumstances. For clients with complex income, this is likely to make a bigger difference to their overall affordability compared to a client who works full-time.


You may also be interested in

The day rate contractor and the let to buy mortgage

Carol wanted to buy her ex-husbands share of their home to let out to tenants. She also wanted to raise capital to put towards a new home to live in. She was a day rate contractor who had failed a credit score. See how we helped.

Case study
Alt - The day rate contractor and the let to buy mortgage