We help tradesmen find affordable mortgage deals.
We specialise in CIS mortgages, so we know where to find the best lender if you work in a trade and are paid through the CIS scheme.
Most self-employed contractors think they need to be employed or ‘on the books’ to get a mortgage, but that’s not true. In fact, being a contractor paid through the Construction Industry Scheme could help you to borrow more.*
Because they’ll calculate the maximum amount you can borrow based on your gross income (that’s the amount you earn before tax is taken away).
Apply for a mortgage with the wrong lender, and you could be limited to how much you can borrow because they might base how much you can borrow on your sole-trader profit (your post-tax income).
If your gross annual CIS income is £50,000, many lenders may allow you to borrow up to 4.5 times that (which is £225,000 or more, subject to affordability).
However, a mortgage lender that assesses net profit (and not gross income) could calculate a maximum mortgage of just £180,000 (assuming your net profit is £40,000). That’s a potential £45,000 difference, which would impact your budget and therefore your choice of property.
The good news is that there is a selection of lenders that will accept 3 months’ of CIS statements as proof of income, so if you’ve been a contractor for less than a year or have gaps in your income, we want to find you a solution.
You don’t need 2 or 3 years of accounts to get a mortgage as a contractor, so get in touch with us today to learn more about your options.
You have every right to a mortgage that reflects your true earning power.
Don’t let standard self-employed rules hold you back — with the right CIS mortgage, you can borrow more and move forward with confidence.
Whether you’re a builder, electrician, plumber, roofer, carpenter, or painter, Opportunity Mortgages is here to help you find the best deal from lenders who understand how contractors are paid.
Fill out the contact form or email [email protected] for expert CIS mortgage advice. We’ll match you quickly with subby-friendly options and guide you every step of the way.
