Just over seven in 10 (74%) UK gig workers have been denied access to basic financial products such as a loan or mortgage, despite having a good credit score, data from Rollee reveals. 

A survey of 1,002 gig workers found that 60% have had to apply to three or more different lenders before receiving access to a credit card or loan. 

Only 10% were successful when applying to their first lender. 

More than half (52%) of gig workers surveyed have lost out on a new home due to being declined by a bank or building society.

Rollee’s data shows that around 4.4m people work for gig economy platforms at least once a week in the UK, contributing £20bn to the UK economy.

The fintech start-up chief executive and co-founder Ali Hamriti comments: “This research reveals the level of financial exclusion gig workers are facing.”

“The struggle gig workers experience is not because they can’t afford a loan or mortgage, but because the current credit scoring systems of financial institutions are not set up to verify their multiple records of income and employment data.”

“And with financial institutions under increasing pressure, this results in workers being denied access to products they should be entitled to.”