Freelancers rejected for mortgages

Mortgage struggle

Self-employed people who received government grants during the pandemic are struggling to get approved for a mortgage. Brokers reckon people who work in sectors like travel, entertainment, and hospitality are the worst affected. Many lenders are also demanding higher deposits; Metro Bank, for example, says customers who have taken a grant will need a 20% deposit.

Hiring boom

The number of workers on payroll went up by 356,000 in June to 28.9 million - the highest it’s been since last April. At the same time, the number of people on furlough has halved as businesses reopen after lockdown.

Vacancies soar

The hiring spree isn’t over yet - there were 862,000 job vacancies posted between April and June, which is back above pre-pandemic levels. All but one industry saw an increase in job ads in the second quarter.