If you are self employed ,a company director or unable to prove your income, it can be difficult finding a suitable mortgage.

There are a number of reasons why it is often more difficult for those in such situations, the main ones are that the income tends to fluctuate and they are unable to prove their income like those regularly employed who can produce payslips.

Obviously, before lending the money, the mortgage lender will want to be as sure as they can be that the person they are lending it to will be able to repay it as required of them and to achieve this they need to know the income of the person.

Not being able to prove your income, or having an income that is not guaranteed to be a certain amount each month is what causes the problems when looking for a self employed mortgage.

Most lenders will require that those applying for a self employed mortgage provide between one to three year's worth of audited accounts to prove that they have sufficient income to cover the mortgage repayments.

These accounts need to be certified by a chartered or certified accountant in order to be accepted by the lender as proof of the potential borrower's finances.

If you are unable to produce audited accounts for the required period of time, then there is another option open to you - the self certification mortgage . This type of mortgage allows the borrower to declare their earnings and certify them themselves. The lender takes this as proof of the person's earnings and bases their judgement of whether to approve the self cert mortgage on this.

With self cert mortgages, the lender may require a larger deposit ,  and the interest rates are likely to be slightly higher when compared to full status self employed or standard mortgages.

I have access to all the UK's lenders who do mortgages for the self employed.

*Click here* to enquire online for a self employed mortgage.