70% of gig economy workers said their job status had affected their ability to buy a home, research from The Mortgage Lender (TML) found.
37% of those working on temporary contracts had plans to buy their first property, but 7 in 10 said their employment status had made it harder to get a mortgage.
63% of gig economy workers who had applied for a mortgage had been rejected at least once.
36% said this was because their job was viewed as unstable, and 29% said their income was seen as too unpredictable.
38% reported being turned down due to a low credit score, and a third had missed a payment in the past.
Among those who felt their employment status had got in the way of buying, 21% said they might have to give up on owning a home, 15% said they would have to keep renting for longer, and another 15% were worried they might never get a mortgage.
Many gig economy workers said they had made sacrifices to try to buy a home.
31% said they had cut down on their social life, while 30% said they paid higher rent to live where they wanted because they could not afford to buy in that area.
27% had moved to an area they did not want to live in, 25% had delayed starting a family, 21% had put off their plans to buy property, and 20% had paused other life goals.
Despite these hurdles, most gig economy workers stayed positive about the future.
86% said they were optimistic about their plans.
46% said they felt positive because their earnings were set to rise, 44% said they were making progress towards buying a home, and 37% said they had saved enough for a deposit.
Sara Palmer, sales and distribution director at Shawbrook Retail Mortgages, said: “Getting on the property ladder is no small task, and this only becomes trickier for non-PAYE workers, who may have several income streams or fluctuating incomes, and therefore are more likely to face rejection from high-street banks.
“It’s encouraging to see this barrier has not dulled the spirits of gig economy workers, who are taking steps to get on the property ladder.
“Speaking to a broker that has experience dealing with specialist cases and good relationships with specialist lenders will ensure that those on complex incomes get the support they need to fulfil their property ambitions.”
