These mortgages were designed mainly for the self-employed or for those people who got bonuses or other various types of unusual income.

Someone who is for example self-employed and whose accountant has his earnings at say #20,000 net, will probably gross earn well in excess of this figure; however if the income is shown at say #50,000 then he will pay tax on #50,000 instead of #20,000, which wouldn't be much fun.

There then is a rule of thumb where if someone is self-employed (nowadays employed as well) and requires a self-cert mortgage where the applicant self certifies his income and therefore his ability to pay the mortgage, they will need a deposit of at least 10% (depending on the size of the loan).

Obviously their credit rating will come into play as well as their outgoings but if everything matches up then an experienced mortgage broker will guide them through the process.

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