How brokers can take advantage of the latest opportunity in specialist finance
The traditional picture of a mortgage customer – single job, single payslip, linear career – no longer reflects the reality of the UK borrower. In 2026, one of the most important shifts in the market is the rise of the multi‑income borrower, and it is a change that plays directly to the strengths of specialist lenders and the brokers who work with them.
Mortgage Introducer spoke with Tony Hall of Saffron for Intermediaries about how this trend is reshaping underwriting, where the biggest growth is coming from, and what brokers need to do differently.
From single salary to income “micro‑business”
Hall argues that the multi‑income borrower (MIB) has now moved from niche to mainstream.
“In 2026, the Multi‑Income Borrower has evolved from a niche category into one of the most prominent segments of the mortgage market,” he said. “Unlike the traditional single‑salary customer – whose financial life tended to be linear, predictable and anchored to a single source of PAYE income – the modern MIB is characterised by income fragmentation and diversification.”
Today, a typical multi‑income borrower will often retain a core PAYE or long‑term contract role, but layer on two or three additional revenue streams – from freelance consulting and online retail to content creation or platform‑based gig work.
“Many undertake what we increasingly describe as a ‘shadow shift’ – paid work carried out during evenings or weekends as they navigate the widening gap between wage growth and the cost of living,” Hall explained.
While overall earning potential can be strong, the consistency, timing and source of that income can vary significantly from month to month. These borrowers increasingly run what he describes as efficient personal “micro‑businesses”, using digital tools and AI‑driven platforms to manage invoicing, sales, marketing and cashflow.
“That represents a fundamental shift from the traditional borrower archetype around which most underwriting models were originally built,” he noted – and it is precisely where specialist lenders come into their own.
Gen Z vs the “un‑retiree”: two very different multi‑income stories
Two cohorts in particular are driving the trend: Gen Z, and later‑life “un‑retirees”. They both sit under the multi‑income banner, but Hall is clear that their profiles – and risks – are quite different.
“Gen Z continues to generate the highest volume of multi‑income activity,” Hall says. “Around 60% of Gen Z now maintain at least one side hustle alongside their main PAYE role.”
For many, this is driven by necessity as housing and living costs outpace salaries. But there is also a strong cultural element: this generation is “gig‑native”, comfortable monetising skills and time across algorithmic platforms such as TikTok Shop, Upwork and Uber.
“Despite often producing consistent income, these platforms are still perceived by lenders as high‑volatility,” he cautions, “leading to a cautious approach when such revenue forms part of an affordability calculation.”
The most transformative impact on the market, however, is coming from older borrowers.
“The most significant growth impact on the market is currently coming from later‑life ‘un‑retirees’,” Hall said. “Among borrowers aged 60–75, we have seen a 35% increase in self‑employment since 2024.”
This is less about simply staying in work, and more about launching second‑career consultancies, coaching practices or niche e‑commerce ventures. According to Hall, these individuals are responding to pension erosion caused by the inflationary pressures of the early 2020s and are focused on funding what many now call “active longevity”.
“What distinguishes this group is the value and quality of their skills,” he explains. “With decades of professional experience behind them, their side‑income streams often involve high‑day‑rate, low‑overhead work with stable margins – presenting a very different risk profile to the gig‑dependent Gen Z borrower.”
For brokers, the key takeaway is that “multi‑income” is not a monolith. The stability, evidencing and story behind a 24‑year‑old’s side hustle and a 68‑year‑old’s consultancy practice are not the same – and neither should be the approach to lender selection.
When to think specialist first, not last
Many brokers still default to a familiar pattern: try the high street first, and only look to specialist lenders after a decline. Hall believes that, for multi‑income cases, that mindset increasingly needs to change.
“Brokers should assess multi‑income applicants through three lenses: Past, Present and Future,” he said.
High street lenders, he suggests, typically favour borrowers whose income profile is easily evidenced through stable, historic documentation – heavily weighted to the “Past” lens.
“If the client’s income is complex, recently established, variable, or dependent on evolving contract types, a specialist lender is far more likely to take a considered, forward‑looking view,” he argued.
As a rule of thumb, Hall says brokers should consider going specialist first where income streams are “layered, irregular, diversified or reliant on newer forms of self‑employment”.
“Doing so reduces the risk of an avoidable decline and ensures the case is assessed by underwriters accustomed to interpreting modern income patterns,” he added.
Packaging layered income
If specialist lenders are often the natural home for multi‑income borrowers, brokers still have a crucial role in how those cases are prepared and presented.
Hall’s first piece of advice is simple: tell the story.
“The underwriter needs a coherent narrative that explains how each income stream operates, how long it has existed and how sustainable it is,” he said. “A concise, well‑structured overview often makes the difference between uncertainty and confidence.”
His second recommendation is to involve lender partners early.
“Speak to your BDM,” Hall stressed. “They can help shape the case, highlight the evidence that matters most, and provide guidance on how best to present the income in a way that aligns with specialist criteria.”
Finally, he emphasises the importance of well‑organised paperwork.
“Ensure documentation is complete, consistent and easy to follow,” he said. “When dealing with layered income, clarity and organisation significantly accelerate underwriting.”
Bank statements, payslips, platform statements, invoices and accounts will all feature more heavily in multi‑income cases; presenting them logically, with good signposting, can reduce back‑and‑forth and improve outcomes.
The next three to five years: the brokers who win
Looking ahead, Hall expects multi‑income borrowers to take up a steadily larger share of intermediaries’ books over the next three to five years.
“While the majority of customers will continue to be single‑income applicants, the share of multi‑income borrowers within brokers’ books will grow steadily in line with the country’s shifting employment patterns,” he said. “For firms that actively embrace this segment, a consistent year‑on‑year increase is highly likely.”
The differentiator, he believes, will be attitude and adaptability.
“What will distinguish the most successful brokers is their willingness to understand and adapt to the complexity of the modern income landscape,” Hall said. “Those who develop confidence in specialist lending, build strong relationships with BDMs, and learn how to package layered income effectively will be best placed to serve this expanding demographic.”
By contrast, firms that “stick rigidly to traditional models” risk being left behind in a market where financial diversification is becoming normal rather than exceptional.
For brokers, the message is clear: the multi‑income borrower revolution is already under way. The key question now is whether their processes, partnerships and mindset are keeping pace – and whether specialist lenders are being used as the first, rather than last, port of call for the clients whose financial lives look very different from the single‑payslip past.
