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How complicated are mortgages for contractors and subcontractors?

When applying for a mortgage as a Construction Industry Scheme (CIS) worker or self-employed sub-contractor, it can be a tricky process. Some lenders are concerned that you will not earn a steady enough income to make your monthly payments and as such are often reluctant to lend to applicants that fall under this category.

However, at esbs, we take the time to carefully consider each mortgage application individually, to enable as many house hunters as possible the opportunity to move onto, or up, the property ladder, or to simply refinance an existing mortgage.

At esbs we have traditionally considered CIS workers to be self-employed, but in an effort to simplify the application process for these short-term contract workers we have created tailored criteria.

What do I need to apply for a CIS mortgage?

esbs can now loan up to £250,000 on CIS income, without accounts or tax returns, provided the following is met:

  • You must be aged 18 or over
  • Employment reference received and stating that there are no plans to change the employment
  • Proof of 24 months in the industry
  • The applicant must have been with the same employer for at least six months with no more than two employers in the previous 12 month period
  • Gross income is calculated at hourly rate x7 or daily rate x 5 x 46 weeks
  • Net income for affordability would be an average of the last six months’ payslips. National Insurance contributions would also need to be deducted for affordability purposes

Unfortunately, we cannot consider applicants on seasonal contracts.

Some self-employed clients have complex business structures, whereby someone can be both employed and self-employed, or be working across different employers. In these circumstances, they would be considered to be self-employed and we will therefore need to see those accounts and tax returns.

To apply for a mortgage you must be aged 18 or over. All applications will be subject to valuation, status and the Society’s Mortgage Conditions. We offer an advised sales process where we ask questions regarding your mortgage requirements/needs and your income and expenditure to ensure that we recommend the most suitable product for you from our range. We will accept applications from applicants purchasing or remortgaging in England or Wales. For further information, or for a European Standardised Information Sheet (ESIS), please call on 01455 844422 and speak to one of our mortgage advisers, visit one of our branches, email, or visit

Click here to see our current mortgage products


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