Multiferroics -materials which are simultaneously (ferro)magnetic and ferroelectric, and often also ferroelastic, attract now considerable attention, both because of the interesting physics involved and as they promise important practical applications. In this paper I give a survey of microscopic factors determining the coexistence of these properties, and discuss different possible routes to combine them in one material. In particular the role of the occupation of d-states in transition metal perovskites is discussed, possible role of spiral magnetic structures is stressed and the novel mechanism of ferroelectricity in magnetic systems due to combination of site-centred and bond-centred charge ordering is presented. Microscopic nature of multiferroic behaviour in several particular materials, including magnetite Fe 3 O 4 , is discussed.