Lenders must cater for rise in home working

A report from Standard Life Bank and the Future Laboratory on the future of work in the UK claims 12 million people will be working from home by 2020.

The report says mortgage providers will have to be flexible to cater for clients’ changing needs.

Home workers spend 149m running their offices and 69% plan to invest more as they spend more time working from home.

Ashley Ramsay, marketing manager of Standard Life Bank, says: “Some eight million Brits work from home and another two million spend at least one day a week there. The structure of our homes is changing.”

Mehrdad Yousefi, head of intermediary mortgages at Alliance & Leicester, says: “Life is changing with more people working at home. As a lender we must keep track of trends.”