A report from BM Solutions, the specialist intermediary lender of the HBOS group, into the preferences of self-employed borrowers found that 44 per cent are looking for greater flexibility from their mortgage provider, whereas only 14 per cent of self-employed borrowers said that criteria are an important factor when applying for a mortgage.
Other key findings were that 40 per cent of self-employed borrowers would go to a financial adviser when looking for a mortgage.
Steve Sandiford, head of borrowing products at BM Solutions, said: "There is a lot of confusion surrounding flexible mortgages, different people have different expectations. A truly flexible mortgage will put the borrower in full control of their finances, in a secure and controlled environment. It should also include, as a minimum, the six key features of a flexible mortgage."
