Banks preparing for gig economy mortgages

Britain’s biggest banks, including RBS, HSBC, TSB and Nationwide, are preparing to sell risky mortgages and loans to freelancers and gig economy workers. The lending push includes launching the first ever mortgages specifically designed for workers in the gig economy and those on zero-hour contracts. According to the Mail on Sunday, the banks are working on new ways to assess the creditworthiness of these customers in order to offer loans safely. Digital bank Tandem also hopes to launch a mortgage designed for the gig economy next year.

The Mail on Sunday (08/12/2019)