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How to get a mortgage as a Construction Industry Scheme (CIS) Worker
Working in the Construction Industry Scheme (CIS) means you often get penalised or even worse declined for the mortgage amount you want. Most high street banks and mortgage brokers don’t understand the hurdles that you as a CIS worker are undoubtedly going to come across when applying for a mortgage.
Mistakenly labelled as a “sole trader”, you’ll be pigeonholed as “higher risk”, resulting in unnecessary delays and rejected mortgage applications.
That’s why we created a bespoke mortgage service so you can avoid this from happening to you. You’re about to witness the power of having a team of experts that specialise in mortgages for CIS Workers in your corner!
Our unique approach involves manually underwriting mortgages with common sense, without relying on credit scoring. This, along with our deep knowledge of CIS worker mortgages brings solutions you never thought possible.
If you want to take advantage of getting a mortgage approved based on your monthly CIS vouchers then you’ve come to right place. Our lenders love CIS Workers and with exclusive deals at high street rates your mortgage dreams are just a few clicks away.
How CIS Deductions Affect Your Mortgage Application
Under the Construction Industry Scheme, contractors deduct tax from your payments before you receive them, usually at 20% if you are registered and 30% if you are not. Those deductions are payments on account towards your tax bill, not a final settlement, which is why many CIS workers receive a rebate after filing their return.
This creates a specific problem at mortgage application. If a lender assesses you on the net amount landing in your account, your income looks around a fifth lower than it actually is. Over a year, that gap can be the difference between the mortgage you need and one that falls short.
Lenders take one of two approaches:
- Gross income assessment — using your CIS vouchers or payslips, often averaged over 3, 6 or 12 months. This usually produces the higher figure and requires less paperwork.
- Self-employed assessment — using your declared net profit after expenses from your SA302, typically over two years.
Which approach a lender takes has more effect on your borrowing figure than almost anything else in a CIS application, and it is not something you can tell from a lender public criteria.
What You Will Need to Evidence CIS Income
- CIS payment and deduction statements (vouchers) from each contractor you have worked for, usually covering the last 3 to 12 months.
- Bank statements showing the payments arriving, which lenders use to corroborate the vouchers.
- Your SA302 and tax year overview if the lender is assessing you as self-employed.
- Where you have worked across several contractors, statements from each rather than only your current one.
If your work has moved between CIS and self-employed invoicing, our Mortgages with Multiple Incomes page covers how combined income is assessed.
What documents do I need to apply for a CIS Worker Mortgage?
Lenders want to see proof of both income and stability. As a CIS worker, you’ll usually need:
Having these ready makes the application process smoother and helps underwriters understand your earnings more clearly.
How is my income assessed when applying for a CIS mortgage?
Unlike PAYE applicants, your income is viewed differently as a CIS worker. Lenders may:
The key is choosing a lender who looks beyond the basics and recognises the consistency of your work under CIS.
How We Help CIS Workers Borrow More
Specialist advice makes a real difference when applying for a mortgage. We are champions of the self-employed – here’s how we help CIS workers borrow more:
This tailored approach gives you access to borrowing options that properly reflect your earning power.
Why Work With Us
Here are just a few ways we’re DIFFERENT from other companies
Self-Employed
Specialists
Specialists
In-House
Underwriting
Underwriting
Borrow
More Money
More Money
Proven
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CIS Worker Success Story
Aaron and Jasmine secured their ideal mortgage with our expert guidance, avoiding a lengthy wait for tax returns. They’ve just moved in and are thrilled to start refurbishing their new home
The new wave method
Here’s the SIX STEPS to GUARANTEE Self-Employed Mortgage SUCCESS
Pro-TIP:
CIS Workers
Take advantage of your CIS worker status and benefit from bigger loan amounts! Our expert Chloe provides her favourite tip to ensure your mortgage is approved without the hassle of providing a tax return.”
Ask our Experts
Yes. Many CIS workers have fluctuating income. Lenders will often take an average over the last three, six, or twelve months of payslips to smooth out the peaks and dips.
Some lenders use your day rate to calculate annual income, particularly if you work on fixed contracts. This can sometimes give you a higher borrowing figure compared with using tax return income alone.
Absolutely. CIS workers can remortgage in the same way as employed applicants. The process is the same, but you’ll need to show CIS vouchers, payslips or accounts to prove your earnings.
Not necessarily. The deposit requirements for CIS workers are usually the same as for other applicants. Most lenders ask for a minimum deposit of 5%, though a larger deposit can open up better rates and more choice.
It varies, and this is where a lot of borrowing power is won or lost. Some lenders treat CIS workers as self-employed and want two years of accounts. Others will assess you closer to an employed applicant using payslips or vouchers, which can mean qualifying with far less paperwork.
Many specialist lenders will work from your gross income before CIS deductions, which usually produces a higher figure than net pay. Lenders treating you as self-employed will generally use your declared profit after expenses instead.
That is normal for CIS work and not usually a problem. Lenders are looking for consistency of income rather than continuity with one contractor, so vouchers or payslips covering the period matter more than who issued them.
Yes. CIS deductions are payments on account rather than a final tax settlement, so you will still file a return. Lenders assessing you as self-employed will want to see it.
Yes. Short gaps between contracts are expected in construction and are rarely disqualifying on their own. Lenders averaging your income over 6 or 12 months will absorb them naturally.
No. A rebate is a repayment of tax you have already paid, not additional earnings, so lenders will not add it to your income. It can, however, be a useful source of deposit.
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