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With 1 in 5 workers in the UK now self-employed, or working on a zero-hour contract, the mortgage market has finally woken up to the need to rethink some previous assumptions.

Until recently it was common practice for a lender...
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Recent court battles involving companies like Uber and Deliveroo have highlighted there is nothing transparent in UK employment law: it’s more of a deep murky sink hole, rather than a beautiful, clear pool.

If you’re working as a contractor, you...
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They say moving home is one of the most stressful things we will face in life. The good news is there’s actually quite a lot you can do to de-stress the whole process – and at least moving does...
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I thought I would take this opportunity to update our CIS readers with a recent success story. Chris contacted us as he has already been declined by most of the high street for a mortgage. His problem was that...
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UK home buyers are being greeted with fewer choices and a housing market that is becoming stagnant. Could this be a result of Brexit or possibly the fault of an uncertain election year? The Royal Institution of Chartered Surveys...
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This article describes some of the important decisions that CIS Subcontractors need to make on there mortgage.

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Expert Mortgage Advice for Self Employed Contractors.
This is a very typical situation when you are a self employed contractor. You've finished your accounts for the year. Your accountant has deducted all your equipment, mobile phone costs and probably a few receipts for McDonalds for those 'away from home' expenses and now you have a nice low tax bill. However whether you are showing low net profit or you are a director of your own limited company and taking salary and dividend - the amount you are showing to the tax man is normally not a true reflection of your salary.

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Published 01 Feb 2017

Anyone who has ever been self employed will know that trying to get a mortgage can be a really difficult process. With strict criteria and banks that won’t even take you into consideration, you can feel like you have no options left. Some self employed workers have ended up renting property for long periods of time because they were so frustrated with the long-drawn out, complex process of applying for a mortgage.

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Published 01 Feb 2017

Whether you are looking to buy your first home or you are hoping to move house, if you are a contractor then you should prepare yourself for the difficulties that contractors face when applying for a mortgage. High street bank are notorious for making the mortgage application process very hard for contractors. Some banks will decline without even the courtesy of having a conversation, there really is no personal touch when it comes to mortgage applications for contractors. The strict criteria that the banks apply for mortgage applications pretty much ensures that a large percentage of the applications will be declined.

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Published 01 Feb 2017

Working in the construction sector has endless complications; from obtaining insurance to simply trying to buy a house. It would seem that life is never easy for someone working in the construction industry. The particularly annoying factor is that construction workers are essential to the economy and add a highly valuable contribution in terms of taxes etc. Wouldn’t it be nice if this would be taken seriously when it comes down to applying for loans such as mortgages?

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Published 23 Jan 2017

Despite the government now providing more support to encourage people into self-employment, banks do not seem to have taken much notice of the changing trend that has seen self-employment figures in the UK rise from 3.8 million in 2008 to 4.6 million in 2015

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Whether you have always been self employed, or you have recently moved into self employment, one thing you will probably know is that when it comes to getting a mortgage deal, your employment status can make it a more difficult process than if you were in permanent employment.

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Published 23 Jan 2017

People think that contractors get the best of both worlds; the freedom to move between jobs/locations and the income that makes sure you can pay your bills and live a great lifestyle. However, when it comes to standard life events like applying for a mortgage, contractors are certainly not getting the good end of the bargain.

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Published 23 Jan 2017

Working as a contractor certainly has a number of great benefits; being your own, boss, the variety of working on different contracts and of course, the financial power of being a contractor. These are the reasons that you went into this type of employment, so you don’t need any convincing about the great aspects of contracting.

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Published 19 Jan 2017

Are you are contractor that has experienced difficulty getting a bank to approve a mortgage? You’re probably feeling frustrated with the whole application process and the criteria that banks apply to what they deem to be high risk borrowers.

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If you’re a contractor working in the Construction Industry then you may have had difficulty trying to get a mortgage from a high street bank. Despite you earning the level of regular income that would meet all of the criteria for a permanent worker, you are seen as a high risk by a lot of the mainstream mortgage lenders.

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Companies like CIS that specialise in self-employed mortgages often see clients that are not prepared for the application process, and most of them are not quite sure what paperwork they are supposed to provide or how much of a down payment they should have saved up. This can make a person’s dream of buying their own home now be postponed for a couple of years.

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There seems to be quite a bit of confusion when it comes to contractor mortgages. Some people are convinced that you will have to pay a higher down payment than other people, and other clients have heard that contractors will have a higher interest rate because they are considered a high risk mortgage. All of this information is simply not true.

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When individuals become self-employed, they often imagine that they will be living the dream. They will be able to work whatever hours they would like to, and they finally get to be their own boss. Sometime after a person starts working for themselves, reality usually hits.

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Published 23 Aug 2016

I remember when I first started contracting. I felt like I was finally free from being sentenced to working for bosses that I had differences with, and all of the things that I hated about my job. I was a plumber, but decided to go a different route ad began contracting as an electrician, something I had gone to school for but had a difficult time finding a permanent job in.

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Applying for a self employed mortgage used to be a hassle that many people avoided all together. It was a general rule of thumb that self employed individuals were rarely approved by banks. Now, thanks to businesses like CIS mortgages, it is easier than ever for individuals in this situation to get the help that they need in order to own their own home. When applying for one of our self employed mortgages, keep in mind these things.

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Contractor mortgages seem to have a lot of grey area when it comes to the requirements. Mortgage lenders are usually full of advice, but the clear cut rules seem to be different everywhere. While a bank has one set of regulations, other lenders, like CIS Mortgages have a completely different set of rules. It can make things a bit confusing for potential applicants, but these questions should help clear up grey areas. These are some of our most frequently asked questions from individuals that are interested in applying for a contractor mortgage.

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If you are looking into your first mortgage, things can get a bit confusing, particularly for self-employed individuals and contractors. Here at CIS, we do as much of the work that we can for you, but we understand that you may still have a few questions about what steps you should take. Whether you are self-employed, a contractor or simply need basic CIS mortgage advice, CIS Mortgage is here to help you every step of the way.

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If you are self-employed, mortgage options can be somewhat limited. There are plenty of self employed mortgage options out there, but different companies have different criteria. Following these tips can help you secure a low rate mortgage to purchase a home. Start planning and preparing now, and you can land a great rate on a self-employed mortgage. It will take some effort on your part, but it will be well worth it in the end.

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Published 21 Jul 2016

Here at CIS Mortgage, we run into quite a few people that are not properly prepared to take on a mortgage. While a deposit is often required, we can help you find a mortgage with a deposit that is as low as possible. To help guarantee your chances of getting approved for a mortgage, start saving for a deposit for a mortgage as soon as possible. These money saving tips can help you pinch every penny, guaranteeing that you are prepared to pay your deposit.

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Published 21 Jul 2016

With so many mortgage companies available in the area, it can be hard to select one. Here at CIS, we pride ourselves on being one of the leading mortgage companies for self-employed mortgages, contractor mortgages and more. We strive to help everyone that we can, regardless of your credit score. Here are a few of the people that we can help get mortgages.

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Published 24 Jun 2016

We find that some clients have trouble to borrow the mortgage they need because they don’t have three years worth accounts? Written off costs and declare a low net profit? With Construction Industry Scheme (CIS) mortgages, you can use the overall income on your pay slips rather than your business accounts.

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Published 24 Jun 2016

Mortgages for contractors in the United Kingdom can be something of a scary place. Part of this is because lenders have different views on what a contractor is. Normally, you can be either a person who is employed working on a fixed or short term contract or you are an individual who works for yourself that works with one company - like a plumber.

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Published 24 Jun 2016

This guide is for companies that are involved in construction activities, and which may be required to register with HMRC as a subcontractor or contractor under the Construction Industry Scheme (CIS). Please remember that companies that have a high yearly spend on construction will be caught by the idea, even if their main area does not relate directly to construction operations

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Important Information
This is an information only website, and none of the content should be considered as mortgage or financial advice. The aim of this site it to provide you with some initial guidance and useful tips and how you chose to use this information is at your own risk. Therefore, we cannot accept liability if things go wrong. If you make an enquiry, you agree to be contacted by an FCA regulated mortgage advisor who will offer you advice tailored to your individual need.
Your property may be repossessed if you do not keep up repayments on your mortgage.

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