Remortgage for Home Improvement

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

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If you’re a subcontractor paid through the Construction Industry Scheme (CIS), mortgages can become somewhat complex. Automatically, some lenders might deem you as high-risk because of an irregular income and be unwilling to lend to you.

The deduction of expenses from your gross profits can also scupper your chances at securing the mortgage you need. It’s for these reasons and more that many subcontractors turn to the CIS Mortgage Advice team to get the right deals with a better chance of approval.

If you’re thinking about remortgaging for home improvement, though, you’re in a different position. You’ve gone through the process of finding a mortgage, and a lender has already deemed you as a risk worth taking. But, needs around the home or merely a desire to add value require you to get back on the mortgage merry-go-round. Regular home improvement remortgaging requirements include –

  • Extensions
  • Renovations
  • Conversions
  • And more

To give yourself a better chance of acceptance and a smooth journey the second time around, it’s vital to consider what CIS means here, and how our team can help you to achieve the best deal all over again.

Is a home improvement remortgage wise with CIS?

Double-checking if a remortgage is the right course of action is always vital, and that becomes even more important where CIS payments are concerned. Though remortgaging may be perceived as a more straightforward process, this isn’t always the case when looking to borrow more. You will still have to meet sometimes tricky eligibility requirements, as well as needing to scour the mortgage market for viable options.

In large part, whether or not remortgaging is best depends on your circumstances and motivation. Bear in mind that many home improvements can add value, making them more than worthwhile. That said, early repayment charges and fees need to be considered, which a CIS Mortgage Advisor helping you to make sense of it all.

Things to consider before remortgaging your CIS deal

Before remortgaging, it’s vital to be aware of every aspect of the situation, including –

  • Your current equity
  • Whether you’re still working the same contracts as when you took out your mortgage
  • The affordability of your new mortgage with CIS payments

These are important to consider to ensure remortgaging is cost-effective and wise from a lending point of view. If you’re still convinced remortgaging for home improvement is right after considering this, you’ll need to focus on finding the right deal for your circumstances.

How can we help you remortgage?

Remortgaging with CIS isn’t altogether different to seeking a mortgage in the first place, only you now have equity behind you and, hopefully, an improved credit score. As soon as you contact us for one of our free no-obligation consultations, we’ll help you towards a home improvement remortgage you can work with by using our expert knowledge to consider –

  • Calculated borrowing rates with equity and CIS payments in mind
  • Rate of pay estimates regardless of expenses
  • Good remortgaging deals even with new contracts

If you’re currently thinking about remortgaging for home improvement, then, don’t hesitate to make it happen by contacting us on 0800 030 6705 today.

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