FOR CIS CONTRACTORS
CIS contractor mortgages
Earning good money under CIS, but your tax return shows much less after expenses? You’re not alone. As a specialist CIS contractor mortgage broker, we work with lenders that can assess your income from your CIS statements, so you can borrow based on what you actually earn.
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How lenders assess a CIS contractor mortgage
If you work under the Construction Industry Scheme, your contractor deducts tax before paying you. When you apply for a CIS contractor mortgage, lenders broadly take one of two approaches:
1. Tax return income. Many lenders treat CIS workers as self-employed and use the profit on your tax calculations (SA302s), after expenses. If you claim a lot of costs, this can be far lower than what you really earn.
2. Gross income from CIS statements. Some lenders instead look at your gross pay on your monthly CIS payment and deduction statements. Even then, they work it out differently: some average your recent weekly earnings and multiply by 46 weeks, some by 48, and others simply add up your last 12 months. On the same payslips, that can mean a noticeably different borrowing figure.
Few people know these options exist, and not every broker knows which lenders use which method. Lenders also differ on how long you need to have been working under CIS, so the right lender choice really matters.
What you’ll usually need
✓ Your recent CIS payment and deduction statements
✓ Bank statements showing your payments coming in
✓ Sometimes your SA302s and tax year overviews
✓ Details of your contract or main contractor, if you have one
✓ Photo ID and proof of address, plus proof of deposit if you’re buying
How we help with your CIS contractor mortgage
We look at your CIS statements and your tax returns side by side, work out which lender’s method gives you the best result, and match you with lenders that suit your work history. We explain the options clearly and handle the application, so you can stay on site.
САМЫЙ ИСТОРИЯ НАСТОЯЩЕГО ПОКУПАТЕЛЯ
He earned around £60,000 a year under CIS, but his tax return showed far less after expenses, so he assumed he couldn’t borrow enough. We found a lender that assessed his gross income from his CIS statements, and that’s what made his purchase possible.
Каждый случай индивидуален. Ипотека предоставляется в зависимости от критериев кредитора и оценки платёжеспособности.
CIS contractor mortgage FAQs
Can I get a mortgage based on my gross CIS income?
Yes, some lenders will assess your gross income from your CIS statements rather than your taxable profit. Criteria vary, so we’ll check which lenders suit your situation.
Why do lenders offer different amounts on the same income?
Because they calculate CIS income differently. Some average your weekly pay over 46 weeks, some over 48, and others use your total for the last 12 months. We compare the methods so you know which gives you the best result.
How long do I need to have worked under CIS?
It depends on the lender. Some want 12 months or more, while others may consider less if you have a longer track record in the same trade.
How much deposit do I need for a CIS contractor mortgage?
Some lenders accept a 5% deposit from CIS workers, while others ask for 10% or more. A bigger deposit usually gives you a wider choice of lenders and better rates. We’ll explain what’s realistic for your situation.
Do I need a tax return to apply?
Not always. Some lenders work from your CIS statements and bank statements, while others will want your SA302s. We’ll tell you exactly what’s needed before you apply.
I work for more than one contractor. Is that a problem?
Not usually. Many CIS workers have several contractors. Lenders look at your overall income and how consistent it is.
Will a lender using gross income cost me more?
Sometimes, but not always. We’ll show you the options side by side, so you can weigh up the rate against how much you need to borrow.
Want a quick idea first? Try our mortgage borrowing calculator.
ЗАКАЖТЕ БЕСПЛАТНАЯ КОНСУЛЬТАЦИЯ
Talk to a specialist about your CIS contractor mortgage.
Send us a rough idea of what you earn and what you're planning. We'll tell you which lenders could suit you, and what you could borrow, before you apply anywhere.
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