CIS Worker Mortgage
Our specialist advisors have years of experience working with people in the construction trade as contract workers with the following circumstances.
- Registered as CIS workers
- Paid weekly or monthly and receive remittance slips
- Have 20% tax deducted at source
If you are a tradesman who is paid in this way, enquire now to be put in contact with one of our specialist team.
CIS is a government scheme that covers all types of construction workers and allows for the worker to contribute 20% of their income towards tax which is then calculated at the end of the year by an accountant or by self-assessment.
Typical construction roles often using this scheme include:
- Groundworker
- Bricklayers
- Builders
- Joiners
- Electricians
- Plumbers
- Fitters
- Decorators
- And many other construction roles
Mortgage lenders we have access to can be very flexible with this income and in many cases will treat you the same as an employee. They will calculate your income over 3 months, 6 Months or 12 months and our advisors will analyse your income to ensure we are maximising the potential of lending by selecting a lender based on the best of these averages.
You will need evidence of your income and lenders will generally need:
- Weekly Statements
- Monthly Statements
- Annual Statements
- Bank statements showing income received
The evidence you will have to supply will depend on the frequency of payment you receive and the remittance advice that is provided by your employer.
Get in touch now to see what our specialist advisors can do for you as a CIS contractor.
As a mortgage is secured against your home/property it may be repossessed if you do not keep up the repayments.