We specialise in Mortgage Advice for Subcontractors paid via the Construction Industry Scheme (CIS)
Getting a mortgage can be complicated, especially without the comfort of traditional employment. Subcontractors who receive payment through the Construction Industry Scheme (CIS), especially are often still left in the lurch where easy mortgage applications are concerned.
Luckily, all hope is not lost. Here at CIS Mortgage Advice, we work with countless subcontractors to bring mortgages within reach. For the most part, CIS payments aren’t a problem when –
- Tax is taken at 20%
- You can provide 3 months’ worth of pay slips
- You have at least 15% deposit
Even when this isn’t the case, our team specialise in CIS-specific mortgage advice and guidance. They’ll also work with you to calculate realistic borrowing rates with some of the best lenders on the market. With our help, you can achieve your dream mortgage no matter what.
What about CIS remortgages?
Homeowners consider remortgaging for various reasons, including –
- The end of fixed rates
- A need for a better deal
- Changes in home value
- Changing interest rates
- A need to borrow more for home improvements etc.
If you’re considering going down this route, you could be in a good position. You already have a mortgage, meaning that the hard part is behind you. A lender has deemed you a risk worth taking despite CIS, and your credit rating and general standing are liable to be much improved as a result. Still, some uncertainty is inevitable.
Seeking remortgage-specific guidance from a member of our team should help your chances of getting a new deal approved.
Is The Lending Criteria The Same?
Despite the fact that you’re already a homeowner, lending criteria may have altered since getting your previous mortgage deal. As such, anyone paid through the CIS scheme will again want to sit down with a member of our team to discuss current income, possible borrowing rates, and the best path to go down for remortgaging acceptance.
What Can I Borrow?
As with your initial mortgage, borrowing amounts will typically range to 5xs your income. The good news here is our team can also take the value of your property into account. This should free you to achieve a more affordable mortgage, with a lot less back and forth than before. You also needn’t worry about sizable deposits, as your house value will already take care of that for you.
Speak to CIS mortgage advice today
Getting remortgaging right can save you vast sums of money, and even help you to add further value to your property. To make sure that happens, we offer an initial fee free no-obligation assessment of your situation, and advice every step of the way to help you get a ‘yes’ to meet your remortgage needs. Simply contact our team for CIS remortgaging advice you can trust today on 0800 030 6705.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE