As many as 71% of contractors are worried about saving for later life following the financial difficulties that came with the pandemic.
The IPSE/CMME research found that women are most likely to be affected, with 78% of female self-employed professionals admitting they’re concerned about saving for later life compared to 69% of men.
The findings also show that many contractors are anxious when it comes to how they’ll be handled by mortgage lenders – 50% believe that they won’t be treated fairly because of being self-employed.
According to the survey, 38% that have obtained a mortgage this year said that the process was either somewhat or very difficult. This represents a 57% increase since 2020.
Andy Chamberlain, Director of Policy at IPSE (the Association of Independent Professionals and the Self-Employed), commented, “Today findings are a wake-up call for lenders and the government. While the focus in recent months has been on economic challenges like supply chains and rising inflation, more attention needs to be given to self-employed workers, who have taken the brunt of the pandemic.