Subbie Tip #19 – Have You Been In The UK Less Than 3 Years?

If you’re a CIS Subcontractor that’s worked in the UK for less than three years you may have been told by lenders and even mortgage brokers that you can’t apply for a mortgage; I’m here to tell you that simply isn’t true.

There are numerous lenders available on the market and although some are most certainly stricter than others, I regularly support successful mortgage applications from clients that are EU member CIS Subcontractors that have been living in the UK for under three years.  In fact, I’ve also helped many clients that have been here for less than two years and in some cases even under a year!

It just takes a little work and preparation.  If you are one of the many CIS subcontractor mortgage seekers with less than three years in the UK, this is the five-step process I follow to achieve successful mortgage applications for clients just like you.

  1. Obtain a copy of the client’s credit report; this needs to be a full copy not just your credit score.  Having the full report enables me to see exactly what a potential mortgage lender will see
  2. Having reviewed the credit report, I provide clients with advice and guidance to help them improve their credit score and profile to present the strongest case to potential lenders.
  3. I check that not only has the client followed my advice but that this is now showing as additional evidence on the credit report to further strengthen the case for a successful mortgage application
  4. Conduct research based on the client’s circumstances to identify the most appropriate mortgage lender and obtain an Agreement in Principle from that lender.  Once this is achieved, the client can now feel confident that a full mortgage application will be approved regardless of how long they have been resident in the UK.
  5. Once the client has found the property they wish to purchase, I make the full mortgage application, evidencing CIS gross earnings with payslips and bank statements and answer all the lender’s questions about your suitability for a loan.

Whilst the process may take a little time; experience shows it is worth it and overcomes any length of residency issues.  So, if you’re a CIS Subcontractor and want to get a mortgage based on your gross income, get in touch today to get the ball rolling; call me on 08000 306705 or drop an email to: