More than two-thirds of self-employed Australians are concerned that home loan credit rules will tighten over the next 12 months, according to new joint research.
A new report commissioned by Bluestone Home Loans and produced by Agile Market Intelligence has found that self-employed borrowers are concerned that borrowing hurdles will become harder in the next year.
The Consumer Pulse Spotlight: Self-Employed Australians: Pathways and Opportunities report drew on Consumer Pulse data from more than 18,700 Australians, including more than 2,200 self-employed respondents (as well as dedicated Bluestone survey streams), to examine property, borrowing and the advice people rely on in the lending market.
It found that 68 per cent of self-employed respondents are somewhat or very concerned that lending conditions will become more difficult in the next 12 months.
This was largely due to rising interest rates, shifting government policies, regulatory reforms, and changing tax or deduction rules, which could complicate the lending market for the self-employed.
Financial anxiety was also found to be high. Irregular income was cited as the primary financial concern for 61 per cent of all consumers and self-employed respondents alike.
Additionally, 22 per cent of self-employed Australians cited difficulty building wealth through property as a major concern, compared to 18 per cent of consumers overall.
The survey comes amid a growing pessimism among borrowers. Nearly half of mortgage brokers surveyed by the Mortgage & Finance Association of Australia (MFAA) recently said they were seeing more clients struggling to refinance because they could not meet serviceability requirements.
The MFAA’s August 2026 Market Sentiment Survey of 588 brokers found 49.2 per cent were seeing an increase in clients unable to refinance due to serviceability constraints, more than double the 24.4 per cent who reported the same issue six months earlier. More than half of brokers surveyed (55.3 per cent) said their clients were feeling negative about their financial outlook, up from 24.2 per cent six months earlier. Similar to the Consumer Pulse survey, cost-of-living pressures were the most commonly cited cause of that pessimism, followed by tax changes announced in the federal budget and interest rates.
An opportunity for brokers to support self-employed borrowers
The Consumer Pulse Spotlight: Self-Employed Australians: Pathways and Opportunities report also identified a growing opportunity for brokers to service self-employed borrowers, particularly as this cohort typically relies heavily on professional advisers but seems to be underutilising brokers for their borrowing needs.
The research showed 39 per cent had used an accountant or bookkeeper in the past 12 months, compared to 31 per cent of employed respondents and 24 per cent of consumers overall.
Further, the report found that while 62 per cent of self-employed Australians engaged at least one professional service provider (such as an accountant or bookkeeper) over the past 12 months, only 10 per cent reported having a relationship with a mortgage broker.
When asked where they would turn if they needed a home loan, 36 per cent said they would approach their existing bank, compared to just 25 per cent who would speak to a broker.
Qualitative research identified two primary reasons behind the low broker uptake: previous negative broker experiences, such as being turned away or encountering scepticism regarding non-traditional income, and established relationships with business bank managers who already understood their financial circumstances.
Analysing the broader implications for the broker channel, Agile Market Intelligence highlighted the fact that while self-employed borrowers had an "openness to professional advice", there was "an opportunity for brokers to become part of that conversation".
The researchers commented: "Around 2.2 million Australians are self-employed, and a significant portion of them use professional advisers heavily. Building referral relationships with professional advisers and increasing their visibility could help brokers reach more self-employed Australians.
"Brokers could also help self-employed Australians understand the options available beyond the major banks. Brokers looking to build stronger relationships with self-employed Australians will need to provide a positive lending experience while helping borrowers navigate an increasingly uncertain lending environment."
Furthermore, brokers who provide a positive lending experience while helping clients navigate an increasingly uncertain credit environment will be uniquely positioned to assist these borrowers, the researchers said.
'Brokers can provide confidence, choice and expertise when it's needed most': Bluestone
Commenting on the findings, Bluestone Home Loans chief marketing officer Nicole Avery said: "Self-employed Australians are actively seeking professional advice, but many don't have visibility of the full lending landscape. That's where brokers can make a real difference. By getting in front of these customers earlier and helping them understand the breadth of options available, brokers can provide confidence, choice and expertise when it's needed most."
She pointed to the role non-bank distribution models play in overall consumer awareness. Avery flagged that the research uncovered a significant awareness gap regarding specialist and non-bank options. Fewer than half of self-employed respondents (45 per cent) were aware of non-bank lenders, despite 63 per cent stating they would consider one if presented with the option.
"Perhaps a by-product of many non-bank lenders originating exclusively via brokers, the awareness gap is a challenge and opportunity for both the non-bank category and for brokers," she said.
"We all have a role to play in increasing awareness and helping borrowers understand there's more than one path to finance."
Bluestone Home Loans' chief commercial officer, Tony McRae, noted that the data points to an engagement disconnect rather than an absence of borrower demand.
"Mortgage brokers continue to play an incredibly important role in helping Australians access finance, but our research suggests many self-employed borrowers aren't making it in front of the broker in the first place," he said.
"Whether it's because they assume they'll be declined, think the process will be too difficult, or simply don't realise there are lending options designed for people who work for themselves, there's a clear real opportunity to demonstrate value and help more self-employed and alt doc customers secure finance."
[Related: Nearly 50% of broker clients struggling to refinance]
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