- Construction Industry Scheme
- Subcontractors
- Day Rates & Hourly Rates
- From 5% Deposit
- Limited Track Record
- New Contractors
- Zero Hours
- Multiple Contracts
Mortgages for CIS Contractors
We have assisted a number of clients who are CIS (Construction Industry Scheme) subcontractors and work in and around the building industry.
As contractor specialists, we understand CIS payslips and work with a number of lenders who are happy to use these payslips when assessing mortgage affordability rather than having to produce self employed accounts.
This can allow you to borrow significantly more than if you were being assessed using lenders’ standard affordability criteria.
We will work with lenders who will consider your:
- current daily rate
- multiply by 5 days per week
- Then multiply that by up to 48 weeks for a year
- The resulting figure gives us an annual salary
- The annual salary can then by multiplied by up to 4.5 to 5 times this figure, depending on your circumstances.