Husband is registered on the CIS advice needed

A question about : Husband is registered on the CIS advice needed

Hi all,

We are looking at moving home. I am in permanent employment 30 hours a week and my husband is a sub-contractor but is CIS registered since he became a sub-contractor in December 2012. He has been sub-contacting to the same company for 5 months now.

We have spoken to a mortgage advisor who is saying we have to class my husband as self-employed but my limited understanding of the halifax's guidelines is that he would be classed as employed under their terms as he has been in similar work since 2000.

Any ideas on if my interpretation is correct? Also could anyone suggest any other lenders which would class him as employed?

Regards,

Joanne

Best answers:

• Halifax treat CIS contractors as employed and their income is calculated using an average of their last six months invoices.
  It is evidenced by the same invoices and six months bank statements showing the money being credited to the account.
• I and my partner, who is a CIS contractor are in the process of a full mortgage application with Halifax, and although our broker put him through as employed as per their guidelines (he's been with the same company for almost 4years) and only sent through payslips for the last 6months, Halifax has come back asking for SA302'S for the last 3 years. I'd say get your husbands SA302'S just in case they are requested for.
• i contacted halifax about this only last week. i was told you also need corresponding bank statements to show the wage going into your account, 6 months cis slips and a contract from the company you work for showing at least 12 months left on it. absolute ballache :/