To apply for a CIS mortgage, you will need to have:

• CIS payslips for the last six months.
• Demonstrate that tax has been deducted by your contractor at the standard 20% rate.
• A minimum 5% deposit to put down on the property.

If you are looking for a mortgage from a mainstream lender, it can be tough to secure a competitive mortgage as a contractor.

However, by working with a broker who is experienced in the sector, the process becomes much more manageable. Generally speaking, self employed mortgages are more complicated as many sole traders will reduce their net profit by writing off tax-deductible expenses, before submitting their self-assessment tax return.

The impact is that you correctly reduce your tax obligations, but in turn, your accounts and tax returns reflect a lower income than your actual wages and therefore can restrict the amount you can borrow.

Using a mortgage lender familiar with the CIS scheme enables you to use the gross income figures as shown on your CIS payslips, hence needing six months worth of payslips to evidence your regular income.

Should your contractor deduct tax from your wages at a higher 30% rate, then you may also be asked to provide copies of your business accounts.

As self-employment becomes more popular, you can find contractor mortgages with many banks and building societies. However, it is always worth consulting an experienced broker before making an application, as there may be much more favourable rates available from niche lenders who specialise in this sort of lending.

Particularly if you fall outside of the 'standard' eligibility criteria, a broker is almost sure to be able to find you a better deal - this could include:

• Having been trading for less than three years.
• Having a complicated income structure.