Statistics show that there are up to 12 million Brits* who cannot prove their income, in the eyes of mortgage lenders they are self certificate borrowers - they must certify themselves that they can afford a mortgage. And this isn't an uncommon practice - 17% of all mortgage products in the UK mortgage market are deemed self cert mortgages otherwise known as mortgages for the self employed**. So could you be one of these millions of Brits who need mortgages for the self employed? And if so, why should you bother with a specialised mortgage at all?

In the early days, mortgages for the self employed were just for the self employed, obviously. If you own your own business you do not get paid on a monthly basis, so cannot guarantee that each month you will be left with enough to pay your mortgage. Of course, in the real world lenders know that the majority of the self employed earn more than enough to cover mortgage repayments, even if that number cannot be proved with a PAYE. That is why mortgages for the self employed were created - for people who earn outside the normal monthly pay cheque.

Mortgages for the self employed have now developed to encompass a huge range of job types beyond the realm of the self employed. Maybe you have two jobs, but cannot prove steady income from one or either of them. Maybe you work on a performance basis - the harder you work, the more you earn. Or maybe you work as a freelance or contract worker, meaning it is down to you to find work, and nothing is set in stone for you. You may be lucky enough to even work on commission or bonus basis, meaning your income is erratic and impossible to quantify. Whatever your situation, if you think your income category falls into one of these categories you could consider mortgages for the self employed.

But why should you choose mortgages for the self employed? You may have had a regular high street deal for years and have been comfortable with it. Well, for a start, as someone who cannot fully prove their own income, you limited in what you can afford. Mainstream lenders calculate on income multiples, usually allowing three or four times your household income as a mortgage basis. But if you earn a lot more than your proven income, mortgages for the self employed allow a larger mortgage, regardless of proven income. Lenders of mortgages for the self employed calculate their loans on affordability instead of multiples, so they look at your past and discuss your potential. Using high-tech systems and credit ratings they give you bigger and better mortgages for the self employed.

So contact an adviser today. Many mortgages for the self employed lenders only go through an intermediary because their complicated systems and products need the advice and care that only a mortgage adviser can give. Mortgages for the self employed are the perfect way for those who cannot prove their entire income to get a better mortgage.

*Office of National Statistics ** Moneyfacts.co.uk