Contractor Mortgages for CIS Workers
Find The Right CIS Mortgage For You!
As a Construction Industry Scheme (CIS) subcontractor, securing the right mortgage can often feel challenging due to the nature of your income, which may not be as consistent as that of a full-time employee. However, there is no need to worry. We specialise in offering tailored mortgage advice specifically for subcontractors paid through the CIS, ensuring that you don’t face unnecessary obstacles or receive less favourable terms.
At Contractor Mortgage Solutions, we understand the unique financial circumstances of CIS contractors, and our expertise allows us to identify mortgage solutions that suit your needs. Whether you’re a first-time buyer, looking to remortgage, or seeking a buy-to-let property, we work with a range of lenders who appreciate the earning structures of subcontractors. Our goal is to help you secure a mortgage that reflects your true financial potential, without you being penalised for your non-traditional income.
CIS Payslips
You don’t need to have been a CIS contractor for 12 months to qualify. Many lenders are happy to consider an application with just 3 months of CIS payslips, provided you’ve been working in the same industry for 12 months or more. This flexibility makes it easier for newer contractors to secure a mortgage.
Credit History
Lenders will review your credit history to assess risk. The fewer issues you’ve had, the more options you’ll have. However, even if you’ve experienced credit problems, you may still be eligible for a mortgage. Our experts can help you review your credit history and guide you through the process.
Deposit
We can help you secure a mortgage with as little as a 5% deposit, depending on your circumstances. While a larger deposit may provide access to more favourable rates, many of our clients have successfully obtained mortgages with a low deposit, thanks to our network of specialist lenders.
Age
Typically, applicants must be between 21 to 75 years old. Some lenders may consider older applicants if the rest of the application meets their criteria.
Residency
You must have been living in the UK for at least one year to be eligible.
Tax Returns
Some lenders may still consider your application even if you haven’t completed your first self-assessed tax return (SA302).
Contact our team of experts today, and let us guide you through securing a CIS contractor mortgage, even with a low deposit. We work closely with specialist lenders to find solutions tailored to your specific needs.
We say ‘YES!’ to CIS
We’re proud to have helped thousands of CIS subcontractors secure their dream homes. If you’re on the Construction Industry Scheme (CIS) with at least three months of continuous payments and a good credit record, we can get you a mortgage based on your average day rate. Even if you’ve had minor credit issues or haven’t completed your first self-assessment tax return, we can still help.
If your employer deducts 20% tax from your income, you’re in the CIS scheme, making you eligible for our specialist mortgage services. Contact us today, and let our expertise guide you towards owning your dream home.
Find Out How Much You Can Borrow?
Let Us Simplify the Process for You!
To secure a contractor mortgage as a CIS contractor, you will typically need to provide a significant amount of documentation. Whatever your job, including bricklayer, carpenter, decorator, or electrician, if you have a good credit history and have made three monthly payments in a row, our lenders are ready to help you!
Thanks to our extensive experience, we’ve streamlined this process to minimise paperwork. Send us:
- Three months’ payslips, invoices, or bank statements
- Proof of registration under the CIS scheme, showing your 20% tax deductions
- Proof of your deposit (as low as 5% of the property price)
- You need to be registered with HMRC for at least 12 months.
With this information, we’ll calculate your average income over a 46-week year, provide a Decision in Principle, and guide you through the entire mortgage process.
Why do CIS Contractors choose us?
At Contractor Mortgage Solutions, we understand the unique challenges CIS contractors face when applying for a mortgage. With our specialist knowledge of the Construction Industry Scheme (CIS) and access to a wide range of lenders, we’re here to help you secure the best mortgage tailored to your circumstances.
Expert Knowledge of CIS Mortgages
We specialise in CIS contractor mortgages, helping you present your income effectively and find the best lenders willing to work with you.
Tailored Solutions
We take the time to understand your specific situation, whether you’re a seasoned contractor or just starting out. Our team recommends mortgage options that fit your needs.
Low Deposit Options
We can help you secure a mortgage with as little as a 5% deposit, making it easier to get onto the property ladder.
Flexible with Bad Credit
Bad credit doesn’t mean you’re out of options. We work with lenders who offer competitive rates, even if you’ve had past credit issues.
Streamlined Process
With just 3 months’ CIS payslips, we simplify the mortgage process to reduce paperwork and speed up approvals.
Strong Lender Relationships
Our established relationships with specialist lenders mean we can offer you exclusive deals and better rates.
Transparent and Honest Advice
With just 3 months’ CIS payslips, we simplify the mortgage process to reduce paperwork and speed up approvals.
Fast-Track Approvals
We understand the importance of timing, especially for contractors. That’s why we work quickly to get your mortgage approved.
Ready to discuss your options?
Don’t let traditional mortgage requirements hold you back. Secure your CIS mortgage and achieve your homeownership goals today with us!
Client testimonials
Fee Jav
Client
Fantastic service from Mo and his team at Contract Mortgage Solutions. They made my remortgage process easy and efficient. A real pleasure to deal with, and I highly recommend them as great mortgage brokers.
Goretty Dias
Client
Mo is extremely professional and has helped me with new and remortgage transactions over the past 3 years. Contract Mortgage Solutions is efficient, communicative, and resolves issues well. Highly recommend!
Layla De Freitas
Client
Mo and his team have provided our mortgage for 7 years, helping us remortgage 3 times. Mo goes above and beyond with in-depth market knowledge and excellent service, even with our changing plans. Thank you!”
FAQ’S
Why Is It Hard for CIS Contractors to Get a Mortgage?
If you’re a CIS contractor, you may face problems like:
- Proving your income with day-rate or weekly pay.
- Lenders thinking your income isn’t stable.
- Being rejected by regular lenders who don’t understand how CIS works.
We help by finding lenders who know how CIS contractors earn their income, so you can get a fair chance at getting a mortgage.
How Much Can CIS Contractors Borrow?
As a CIS contractor, lenders look at your daily or weekly pay. For example:
If you earn £200 a day and work five days a week, a lender may count your yearly income as £200 x 5 days x 48 weeks = £48,000.
This income will help the lender decide how much you can borrow. You can usually borrow 4 to 5 times your annual income, depending on the lender. This means you can borrow up to 240,000 or more. Contact our experts to find out more options
How much deposit do I need?
We can help you secure a mortgage with as little as a 5% deposit, depending on your circumstances. While a larger deposit may provide access to more favourable rates, many of our clients have successfully obtained mortgages with a low deposit, thanks to our network of specialist lenders.
What if you have bad credit?
Having bad credit doesn’t automatically disqualify you from securing a CIS mortgage, but it may reduce the number of lenders willing to offer you a loan.
Your eligibility will largely depend on the nature and timing of the credit issue. For example, if your bad credit is due to something minor, such as a missed mobile phone payment from some time ago, there are still likely to be several lenders willing to consider your application.
At Contractor Mortgage Solutions, we specialise in helping CIS contractors with less-than-perfect credit histories find mortgage solutions. Our expert advisors will assess your unique situation and connect you with lenders who are more flexible in their approach, ensuring you get the best possible outcome for your circumstances.
Can I get a Mortgage as a Subcontractor?
Absolutely! Being self-employed, including as a CIS contractor, does not mean you’re limited in your ability to secure a mortgage. At Contractor Mortgage Solutions, we specialise in helping CIS contractors find the best mortgage options available.
Our deep understanding of the Construction Industry Scheme means we know how to tailor solutions that reflect your unique income structure. Whether you’re a seasoned contractor or newly registered, we’re here to help you navigate the process and secure the right mortgage for your circumstances.
For more information on our CIS contractor mortgages, visit our website or speak to one of our expert advisors today. Let us help you turn your property aspirations into reality with confidence and ease.