Our specialist mortgage brokers can help you find the right mortgage when your circumstances aren’t so straightforward.
Our specialist mortgage brokers have access to specialist mortgage lenders, as chances are that the most ideal mortgage product is not available from high street banks.
Where high street lenders tend to create mortgage products for the masses, they can be inflexible when it comes to ‘complex’ cases where a more tailored mortgage is needed. This can result in mainstream lenders refusing complex mortgage applications that are better places with a different lender.
Many contractors find getting a mortgage harder work than they’d perhaps expect. Whilst some are on high incomes, they can find getting a mortgage quite difficult, particularly if their income is irregular. Even though contract work is becoming more common, many mainstream lenders aren’t prepared to offer mortgages to contractors.
Fortunately contractor mortgages are often arranged with specialist lenders. Mortgage deals can be no worse than the more ‘straightforward’ applications, it’s simply a case of finding the right lender.
CIS mortgage scheme
A CIS mortgage lets construction industry workers borrow more than they perhaps could elsewhere. CIS is the Construction Industry Worker scheme which workers can register for. When CIS registered, construction workers can save tax by writing off expenses against income.
Getting a mortgage when self employed is typically more complex, as your income is directly linked to the performance of your business. Usually, your proof of earnings needs to be in the form of company accounts (often 2 years). The right mortgage expert can help place you with the right lender that understands the circumstances of being self employed – and know that your income will fluctuate from time to time.