CIS Mortgage

Preparing For A Self-Employed Mortgage

We specialise in Mortgage Advice for Subcontractors paid via the Construction Industry Scheme (CIS)

Your home may be repossessed if you do not keep up repayments on your mortgage.

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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.

Here at CIS, we hate to see that happen. That’s why we recommend that self-employed individuals take the following steps to make sure that they are prepared to apply for their mortgage when they are ready to buy their own house.

Tax returns

When a person applies for a mortgage, they need to be able to provide proof of their income. This is to make sure that they are able to pay their monthly mortgage payments. When a person pays taxes, this will show their overall income, and how much their income is after business expenses are deducted.

Mortgage companies will look at how much income is left after business expenses are paid to make sure that you can pay the payments. Simply purchasing a filing cabinet to keep important paperwork in will make it easier to find these when you are ready to apply for a mortgage. After filing taxes every year, put a copy in a folder for easy access when application time comes.


In the same filing cabinet, keep your current contracts. Self-employed work may not be steady, so mortgage companies will want to see that you have steady work to guarantee that you can make the mortgage payments. Companies like CIS Mortgages do not want for you to wind up in a situation that will result in you losing your new house, and this is why they try to make sure that you will be able to make the payments.

Keep a separate folder in the filing cabinet to make sure that these are easy to get to when the application process comes. Even if you are not planning on buying a house for five years, being able to show a mortgage company that you have had five years of contracts will greatly increase your chances of being approved.

Other income

If there is income that is not done on a contract basis, it is important to keep track of that as well. For example, if a business owner frequently does odd jobs for the neighbours, this can also count as income if they are paid for it.

To keep track of this type of income, save receipts for every odd job, and request that the person sign the receipt. References that include people you have done odd jobs for is also a great idea. Simply put these in their own folder, and then they will be ready to go when you are ready to apply for a mortgage.

Unfortunately, self-employed individuals often have to go to greater lengths than other people to prove their income, but at CIS Mortgages we try to make the process as painless as possible. By keeping these three things in a filing cabinet, every applicant will be able to make their application process run more smoothly than ever before. Unlike other mortgage companies, this is usually all a person will need.

Speak To An Expert

If you’re reading this as a Construction Industry Scheme (CIS) contractor, then you or your partner are probably struggling to find a mortgage right now. We can help.

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