53% of remote workers think it improves mortgage odds

People working from home more often are now making an average additional saving of £234 per month.

53% of remote workers think it improves mortgage odds

More than half (53%) of remote and hybrid workers think that working from home could improve a mortgage lender’s perception of their ability to afford a mortgage, according to financial comparison website NerdWallet.

 

The research also found that people working from home more often were now making an average additional saving of £234 per month.

Almost two-thirds (64%) of Britons surveyed were willing to live with their parents or guardians for longer to save up a mortgage deposit for their first property, with one in five prepared to do so for up to two years.

Just 18% of first-time buyers said that they were strict about putting away savings for a deposit, even though purchasing a home was their number one priority.

Richard Eagling, senior personal finance expert at NerdWallet, said: “Much is often said about the financial challenges of affording a first home, so it is refreshing to learn that so many people are feeling buoyed by the extra savings they are able to make through the increase in remote and hybrid working and how this could make them look to mortgage lenders.

“Hopefully, this greater ability to save will enable more people to set foot on the property ladder in the years ahead.

"Our aim at NerdWallet is to help people understand how they can maximise their finances and savings in order to achieve these goals.

“I try to save for a mortgage, but the cost of living limits the amount I can put away each month.”

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