Buy to Let

We specialise in Mortgage Advice for Subcontractors paid via the Construction Industry Scheme (CIS)

Buy to let mortgages for contractors made easy

Whether you’re a seasoned investor, or exploring your options as a landlord for the first-time, you may already be aware of the raft of reforms in this sector last year?

Landlords will soon need to register with a redress scheme to solve tenancy disputes, although it’s not been announced yet whether this will be a new body or an extension to the remit of an existing body.

Any property to be leased after April 2018 must also have a minimum energy efficiency rating of E. (Pre-existing tenancies have until 2020 to comply.) Providing false information on this could lead to a fine of up to £5,000, so if you’re looking now, ensure you understand the energy rating of the property you want to buy.

There are also proposals to introduce inspections on rented premises every three years, and while this is not yet confirmed, it will pay to bear this in mind when looking at the overall condition of any property you’re considering.

Requirements also vary across the country, but many local authorities require you to register as a landlord. Around 300 either already have some form of scheme in place, or are consulting on its introduction. Check your local council’s website to see if this affects you.

Then there’s tax: as a landlord, you can offset 50% of your mortgage interest for tax relief in the tax year starting on 5 April 2018, but this allowance will disappear completely by 2020, so it now pays to do your sums carefully.

Lenders are also imposing their own tougher restrictions on portfolio landlords. If you are adding a fourth property (or above) to your portfolio, then when applying for new finance you will now need to show full financial information for each existing property. If your existing portfolio is heavily mortgaged, this could result in you getting turned down for new loans.

If you’re still keen, the other thing to bear in mind is that any loan for Buy to Let is assessed on your self-employed profit (that’s after deduction of expenses), which is also secondary to the potential rental income from the property.

As we saw in 2017, taxation rules are always changing, so we recommend you always seek specialist tax advice before completing any purchase. But if you want to explore your options further, contact one of our specialist mortgage advisors today.

Some buy to let mortgages are not regulated by the Financial Conduct Authority

We Say Yes To CIS

Less than 1 year self-employed

5% Deposit

Less than 3 years in the UK

High day-rate with low net profit

Becca larkin
Becca larkin
11:19 18 Oct 19
If you are thinking about using CIS mortgage, 100% do it! I can't explain how happy my partner and I are with the service. After seeing a previous mortgage adviser who told us we couldn't get a mortgage, David, within days got us a mortgage. So pleased with the outcome and it was so refreshing to speak to someone who completely understands CIS through and through. Amazing!!!read more
Ruaridh black
Ruaridh black
13:56 24 Aug 19
Went directly to a bank for a mortgage with my cis statements and they didn't even consider giving us the mortgage. Me and my wife were gutted as it was our dream home and one we could start a family in together. Thanks to David here we managed to get a mortgage and got the house we wanted! We are now expecting our our first child and in our dream home! Wouldn't have been possible to get the house/mortgage without them so very appreciative. Fast and professional and would recommend them to anyone who works under the CIS payment scheme and are self employed.read more
P. Jiten
P. Jiten
09:56 17 Aug 19
For CIS self employed people this is the best company in UK. Got mortgage in principle certificate after submitting required documents and mortgage approved in 10 days after submitting file. Hassle free process throughout and any question or query promptly answered. David and Lisa are amazing people to work with.read more
Michelle Perrin
Michelle Perrin
09:28 17 Aug 19
My husband and myself have been dealing with David since our first property purchase in 2012. David has a vast amount of knowledge, has always put us at ease and answered our questions throughout the process. David is great to deal with, always goes above and beyond and we have already recommended him to several of our friends and family, one of which is nearing completion of their first home. Always fantastic service, highly recommend CIS Mortgage Adviceread more
Veronica Grosu
Veronica Grosu
09:36 12 Aug 19
Fantastic service from start to finish. David made it simple and effective for us. We are very happy with the outcome. I would definitely recommend!read more
Rob
Rob
09:23 18 Jul 19
David has been faultless from the beginning and helped me and my girlfriend out loads and without him we would not be moved into the house we are in now. He understands the difficulties of being a CIS worker with mortgages and gives you the best advice he can and is very quick on the ball at getting stuff sorted. My case I appointed him for was more complex than most I would say due to being self employed and having a limited company but he had no trouble with achieving me a great mortgage deal and borrowing amount with the information I gave him. It has been a pleasure to deal with david through buying this property and I shall definitely be using him on any future purchases or remortgages. Nothing was ever to difficult for him and he was always just at the end of the phone when you needed him even after his working hours he went above and beyond by helping me with help to buy also.read more
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