CIS subcontractor mortgage

graduate2012

Hello

Myself and my partner are saving up for a deposit for a house and we are still quite a few months off yet (probably another 6 months) but I am trying to do research so I am well prepared as we get closer

I am trying to find out which figures my partner will have to submit for our mortgage application. Most of my research says that self employed people have to submit the figure after tax, NI and expenses. However I did read somewhere that those who are CIS subcontractors and so receive CIS wage slips every month (where tax is already deducted) can submit the figure before tax is deducted.

Can anyone help as I can't seem to find a definitive answer?

Thanks

amnblog

Like most things, it depends on the Lender you use.

The right lender will treated the gross figure on the payslips as basic income and treat him as employed (assuming his PAYE is paid on his behalf which is usually the case).

Ideally he has been on CIS for 24 months, if not the Lender will be looking for a remaining contract length of 6 months.