First Time Buyer

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

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Top tips for first time buyer contractors

First time buyers make up a vital sector in the housing market, however from out experience CIS Subcontractors who are also First Time Buyers struggle the most to find the right mortgage for their circumstances. This is often because mortgage lenders do not accept gross earnings paid for the CIS Scheme as a valid income for mortgage lending purposes.

CISMortgage Advice helps sub contractors to successfully take their first step onto the property ladder, and our expert mortgage advisers will be able to guide you through what can, at first, seem to be a daunting process – and help you get the maximum loan possible.

Here’s a few hints to set you up for success.

Financial Support

As a first-time buyer (or owner of a single property) you could be eligible for help under the Government’s Help to Buy Scheme, which also runs in Scotland.

It boosts what you can afford, as the government lends you up to 20% (40% in London) of the cost of a newly-built home. So you only need a 5% cash deposit, and a mortgage to cover the outstanding 75% of the purchase price.

There are conditions around the loan, but it can be very beneficial.

There are also similar schemes, such as First Steps London, Right to Buy and Shared Equity Schemes.

Types of mortgage

When you consider what type of mortgage you want, think ahead.

A variable rate mortgage can appear cheap today, but interest rates can increase, and even a small rise could impact your monthly budget significantly.

Credit rating

Make yourself attractive to lenders by showing that you have kept up-to-date with payments on all your credit or store cards and any other borrowings. You can check your credit report for free using Experian, or one of the other similar agencies.

If you do have any bad credit, don’t worry, but do tell our mortgage advisor immediately, no matter how minor you think it is.

Deposit

Save for a deposit. Use an ISA to get the annual tax benefits from qualifying exemption on the interest.

We Say Yes To CIS

Less than 1 year self-employed

5% Deposit

Less than 3 years in the UK

High day-rate with low net profit

CIS Mortgage Advice
4.9
Based on 48 reviews
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Ruth Hughes
Ruth Hughes
14:12 13 Mar 20
I was recommended CIS mortgage by a friend of mind and I wasn't disappointed. Adam Mills took all the stress a way from... getting a mortgage as a self employed person. It was great having someone else do all the research and calls to make sure everything went through smoothly. I have already passed his details onto friends!read more
ALEX LAMB
ALEX LAMB
23:27 08 Mar 20
I would like to thank Adam Mills at CIS Mortgage Advice for the fantastic service provided obtaining my recent... first-time mortgage. After several disappointing conversations with other mortgage brokers, I was really starting to lose faith that I would be able to buy my first home for my new family. After one final Google search for a self employment-specific broker, I found CIS Mortgage Advice and Adam's positivity and optimism right from the get-go really restored my faith. As a first time buyer, I was still getting my head around the jargon and different elements of the mortgage process. Adam was very approachable and made sure I understood everything at each and every turn. You've turned a previously very disheartening experience, into a positive new chapter for myself and my family. I cannot thank you enough and I hope to deal with you again in the future. Kind regardsread more
Katie Underwood
Katie Underwood
22:30 24 Feb 20
A huge thank you to Adam at CIS Mortgage Advice for guiding us through our first home buying experience. Providing a... first class service, Adam kept us well informed and always in the loop. A friendly and professional team without whom, we could never have made securing our first home a reality!read more
Matty D
Matty D
20:44 14 Feb 20
From the minute I was contacted by David from CIS Mortgages the service I have received has been second to none. A... special thank you to Rhodri who has been nothing but top notch in securing me a great rate mortgage and keeping me in the loop at all times; very professional. If you are CIS and looking for a mortgage, this is the place to go, I would recommend this company to anyone. Many thanks.read more
Alastair grove
Alastair grove
12:54 13 Feb 20
My advisor lee Hawkins has done an amazing job, just the final forms to send in for the mortgage agreement and done, we... was let down by another advisor who didn't know what she was doing with Cis and gave us false hope saying we could get one then saying no. These guys get all the paperwork together first and then put together your package.... Highly recommended if you are Cis don't go through wasted months like I have with a "normal" advisor. Great job lee keep up the good work, let's see what the next few weeks bring.. Alastair and Ashleighread more
Rhiannon Bangs
Rhiannon Bangs
19:42 28 Jan 20
My partner used this company, as a self employed person he found it hard to get a mortgage, but with the help of cis... mortgage and the very helpful adam we are ready to move into our first family home. The whole process was easy such brilliant service, very thorough and he was kept informed through out the process. Thanks again to Adam.read more
belayet hussain
belayet hussain
13:26 28 Nov 19
I would highly recommend CIS Mortgage 100%. David Sharpstone & his team went above and beyond to helped me secure... both my mortgages. He always kept me updated with the process and developments. Buying house is probably one of the most stressful times of your life, However David always reassured and guided us throughout the entire process. understanding, caring yet always remaining professional and supportive. Brilliant I cannot THANK him enough. THANK YOU!!read more
paul montgomery
paul montgomery
10:15 12 Nov 19
Can’t give nothing but praises and thank you to David and CIS Mortgage’s from very first conversation to being... offered a Mortgage he and his company kept me informed of every process and explained in every detail of application and history required with nothing but first rate professionalism throughout I will use him in future and recommend him to anyone in the same difficult situation I was in, as I was given bad advice before this company which gave me the feeling would never get on property ladder now David has dealt with my case will be moving into my first home in couple months thank you again David and CIS team. If you’re in difficult situation or just need advice please just call CIS Mortgage’s. Paul.read more
Becca larkin
Becca larkin
11:19 18 Oct 19
If you are thinking about using CIS mortgage, 100% do it! I can't explain how happy my partner and I are with the... service. After seeing a previous mortgage adviser who told us we couldn't get a mortgage, David, within days got us a mortgage. So pleased with the outcome and it was so refreshing to speak to someone who completely understands CIS through and through. Amazing!!!read more
Ruaridh black
Ruaridh black
13:56 24 Aug 19
Went directly to a bank for a mortgage with my cis statements and they didn't even consider giving us the mortgage. Me... and my wife were gutted as it was our dream home and one we could start a family in together. Thanks to David here we managed to get a mortgage and got the house we wanted! We are now expecting our our first child and in our dream home! Wouldn't have been possible to get the house/mortgage without them so very appreciative. Fast and professional and would recommend them to anyone who works under the CIS payment scheme and are self employed.read more
P. Jiten
P. Jiten
09:56 17 Aug 19
For CIS self employed people this is the best company in UK. Got mortgage in principle certificate after submitting... required documents and mortgage approved in 10 days after submitting file. Hassle free process throughout and any question or query promptly answered. David and Lisa are amazing people to work with.read more
Michelle Perrin
Michelle Perrin
09:28 17 Aug 19
My husband and myself have been dealing with David since our first property purchase in 2012. David has a vast amount... of knowledge, has always put us at ease and answered our questions throughout the process. David is great to deal with, always goes above and beyond and we have already recommended him to several of our friends and family, one of which is nearing completion of their first home. Always fantastic service, highly recommend CIS Mortgage Adviceread more
Veronica Grosu
Veronica Grosu
09:36 12 Aug 19
Fantastic service from start to finish. David made it simple and effective for us. We are very happy with the outcome.... I would definitely recommend!read more
Rob
Rob
09:23 18 Jul 19
David has been faultless from the beginning and helped me and my girlfriend out loads and without him we would not be... moved into the house we are in now. He understands the difficulties of being a CIS worker with mortgages and gives you the best advice he can and is very quick on the ball at getting stuff sorted. My case I appointed him for was more complex than most I would say due to being self employed and having a limited company but he had no trouble with achieving me a great mortgage deal and borrowing amount with the information I gave him. It has been a pleasure to deal with david through buying this property and I shall definitely be using him on any future purchases or remortgages. Nothing was ever to difficult for him and he was always just at the end of the phone when you needed him even after his working hours he went above and beyond by helping me with help to buy also.read more
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Hidden costs

Remember to budget for ‘hidden’ costs too, such as legal fees, building insurance, surveyor’s fees (although in Scotland, it is the seller who has to prepare a Homebuyer’s survey) and removal costs.

After the recent budget, few first time buyers in England and Wales still have to consider Stamp Duty (or Land and Buildings Transaction Tax as it’s known in Scotland, or Land Transaction Tax in Wales) – but we’ll keep you straight.

And of course, don’t forget to factor in furnishings for your new home!

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE