Construction Industry Contractors are in the fortunate position to not have to rely on their last 1 or 2 years accounts but can often use the income detailed on their last 3 months payslips.
There is not a specific CIS Contractor mortgage but some lenders will consider these payslips as evidence of income without the need for the contractor to have to show tax year calculations and tax year overviews.
CIS contractors are in the unique position of being self employed but the company that they work for deducting 20% of their salary at source for tax.
Not all lenders are CIS Contractor friendly and of course those that are have a number of criteria. Our specialists work with CIS contractors up and down the country and are experienced in obtaining mortgages for CIS contractors.
If you work within the Construction Industry and have 20% of your earnings deducted at source by your employer you are likely to be on the CIS scheme. If this is the case you may not need to wait for two years worth of self employed accounts we may be able to assist you with 3 months worth of payslips.
Our advisers are ready to assist CIS Contractors with fee free mortgage advice.