CIS Remortgage
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CIS Remortgage
Michal Iwinski explains how the remortgaging process works for a Construction Industry Scheme (CIS) worker.
Podcast approved by The Openwork Partnership on 24/06/25.
Is it harder to remortgage if I am a CIS worker?
The simple answer is no. Remortgaging as a CIS worker is not necessarily more difficult than for other borrowers. In fact, it can sometimes be easier than a remortgage for a self-employed person, especially if you are working with a lender that understands and accepts CIS income.
How long do I need to be CIS-registered before applying for a remortgage?
For a mortgage using CIS income, most lenders require a minimum of three months of CIS payments. However, they also need to see at least 12 months of history in the construction industry – even if some of that was spent as an employee. Some lenders may prefer two years of industry experience.
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How does employment history for CIS workers impact the likelihood of being approved for a remortgage?
Most mortgage lenders require evidence that you have worked in the construction industry and the same line of work for at least 12 months. It might be that you were previously employed or regular self-employed, paid directly without any tax deducted at source.
Can CIS workers include their spouse or partner in a joint remortgage application?
Absolutely, yes, you can include a spouse or partner on a joint mortgage. Some lenders may even require it, especially where a couple is married. The lender will assess the combined income of both applicants to determine affordability.
What factors do lenders take into account when assessing the affordability of a remortgage for CIS workers?
When lenders assess the affordability of a remortgage for CIS workers, they consider the individual gross income, existing financial commitments and other relevant factors. The process is designed to ensure the borrower can comfortably make payments without overstretching themselves.
On a CIS mortgage, lenders primarily focus on the gross income shown on payslips rather than net profits from self-employed tax returns.
They may look at payslips from the last three to six months to determine your annual income. The lender’s approach to income assessment can vary, and some may accept a shorter CIS history than with traditional self-employed borrowers.
Your financial commitments, dependents and some other factors come into play – all the same information that’s required for typical borrowers.
Can a CIS worker switch lenders when remortgaging?
Yes, absolutely, you can switch lenders when remortgaging as a CIS worker. Remortgaging with a different lender is a standard process.
When a CIS worker remortgages, they need to provide payslips, bank statements and other documentation to demonstrate affordability, just as they would when applying for an initial mortgage.
What factors should a CIS worker consider when deciding whether to remortgage?
They should assess their financial situation, first of all, in terms of affordability and the current mortgage market. Factors like income consistency, credit history and deposit size are crucial, along with the potential to secure a better interest rate or release equity for other purposes, if needed.
What documentation will a CIS worker need to provide when remortgaging?
You need to provide similar documentation as when initially applying for the mortgage. That would be proof of income, bank statements and ID. Specifically, this will likely involve the last few months’ CIS payslips or invoices, bank statements showing income and outgoings, and some form of address and photo ID.
What are the advantages and disadvantages of fixed rate versus variable rate remortgages for CIS workers?
For CIS workers considering a remortgage, fixed rate options offer predictable monthly payments and protection from interest rate hikes. However, they also limit flexibility and you would not benefit from falling rates.
Variable rate mortgages can offer potentially lower initial rates and the chance to save if rates drop. But they come with the risk of increasing repayments if rates rise. It’s all about weighing up the pros and cons depending on your circumstances.
Can I remortgage if I’m CIS registered and nearing retirement age?
Yes, it is possible to remortgage even if you’re CIS registered and nearing retirement. It may require a specialist lender or a shorter mortgage term.
Lenders will assess the affordability based on your current and projected income, including your pension and other retirement income, to ensure that you can comfortably repay the mortgage throughout its term.
Are there any CIS-friendly lenders or mortgage brokers for remortgage applications?
Yes, there are many CIS-friendly lenders and brokers who can assist with your mortgage. A significant number of lenders will consider applicants paid through the CIS scheme.
These include several high street names like Barclays, Halifax and NatWest, along with lesser-known lenders like Kensington, who are known to accept CIS applicants [information correct at the time of recording in June 2025].
What else do we need to know about a CIS remortgage?
As always, it’s advisable to consult with a broker. We provide guidance on borrowing capabilities and help connect you with suitable lenders. Brokers also help you navigate the complexities of CIS mortgage applications and ensure you get the best possible outcome.
YOU MAY HAVE TO PAY AN EARLY REPAYMENT CHARGE TO YOUR EXISTING LENDER IF YOU REMORTGAGE.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR PROPERTY. YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Approved by The Openwork Partnership on 24/06/25.