Are you a CIS worker in Liverpool looking for mortgage guidance tailored to your unique employment circumstances? At CRC Mortgages, our experienced and approachable mortgage brokers understand the specific challenges CIS contractors face when it comes to securing a mortgage. We are here to help you navigate the complex landscape of CIS mortgages, offering clear and practical advice every step of the way.
What is a CIS Mortgage?
A CIS mortgage is a type of mortgage designed specifically for workers paid through the Construction Industry Scheme (CIS) — typically self-employed subcontractors working in construction.
What is the Construction Industry Scheme (CIS)?
The CIS is a HMRC scheme where contractors deduct tax at source from payments made to subcontractors. These deductions are effectively advance payments towards the subcontractor’s tax and National Insurance.
YOUR HOME/PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBT SECURED ON IT
The FCA does not regulate some forms of Buy to Lets. Think carefully before securing other debts against your home/property.
There may be a fee for mortgage advice. The precise amount of the fee will depend upon your circumstances but will range from £449 to £699 and this will be discussed and agreed with you at the earliest opportunity.
If you would like to speak with an adviser,
please contact us below.
Specialist CIS Mortgage Broker Liverpool
If you’re working under the Construction Industry Scheme (CIS) in Liverpool, you might have found it difficult securing a suitable mortgage. High street lenders may not always understand your earnings pattern or may overlook your gross income assessment. Our Liverpool CIS mortgage brokers are familiar with the distinct needs of contractors working under CIS regulations.
At CRC Mortgages, we recognise the importance of working with lenders who understand the CIS payment structure. Whether you are a builder, plumber, bricklayer, electrician or involved in any trade under the CIS scheme, we’ll thoroughly assess your earnings and financial situation to help locate mortgage products tailored specifically for CIS professionals like you.
Why Choose Our CIS Mortgage Advisors in Liverpool
Our Liverpool-based team aims to simplify the process as much as possible, explaining clearly each step involved, from initial assessment through to completion. Our mission is to make securing a mortgage as straightforward as we possibly can, saving you time and unnecessary hassle along the way.
- Experienced brokers: Our Liverpool CIS mortgage advisors have extensive knowledge and understanding of mortgages for CIS contractors, enabling us to find suitable options effectively.
- Personalised service: We take the time to understand your personal and financial circumstances thoroughly to help you review and select mortgage options tailored to your needs.
- Clear communication: Throughout the mortgage application process, our approachable team ensures you remain informed and confident, explaining complicated mortgage jargon in plain English.
- Local expertise: Being based in Liverpool, we have developed strong local expertise and knowledge of lender criteria relevant to the CIS industry in this region.
CIS Remortgaging Liverpool
If you’re already a Liverpool homeowner working under the CIS scheme, remortgaging can be an excellent option to manage your mortgage repayments better, release equity or secure a more suitable deal for your situation. CRC Mortgages can help you identify remortgage products that take your CIS circumstances fully into account.
Our dedicated remortgage advisors in Liverpool will guide you clearly and effectively through each stage, considering your gross income under CIS to help find a suitable mortgage deal, potentially saving you valuable time and money.
First-Time Buyer CIS Mortgages Liverpool
We appreciate that stepping onto the property ladder can often seem daunting, particularly for CIS workers whose incomes may fluctuate or differ from standard salary criteria. As specialist CIS mortgage brokers in Liverpool, we strive as much as possible to make your first home-buying experience positive and manageable.
CRC Mortgages works closely with lenders who understand CIS contractors, helping you navigate the complexities of buying your first home. By clearly explaining available options tailored for your unique circumstances, we aim to demystify the first-time buyer process for CIS workers.
Buy-to-Let CIS Mortgages Liverpool
If you’re interested in exploring a buy-to-let mortgage as a CIS contractor, our Liverpool-based team can support you. We have the necessary knowledge to help you understand the specific requirements lenders have for buy-to-let mortgages, and we will help you assess suitable options to meet your investment goals effectively.
Frequently Asked Questions About CIS Mortgages
Can I get a mortgage as a CIS contractor in Liverpool?
Yes, securing a mortgage as a CIS worker is possible. Though some traditional lenders may find assessing CIS income complex, our experienced Liverpool mortgage brokers understand the CIS structure and have relationships with lenders who cater specifically to CIS workers.
How is my income assessed under the CIS scheme?
Mortgage lenders typically assess CIS income based on your gross CIS payments rather than your net profit. Generally, lenders might assess your income based on the income from the past 12 months’ CIS payment slips, although lender requirements can vary.
What documents do I need as a CIS worker applying for a mortgage?
You will typically need CIS payslips or CIS statements covering at least the last 12 months, bank statements and proof of your identity and address. Some lenders may require additional evidence, so we will guide you on exact documentation requirements clearly during your consultation.
Do I need a deposit to secure a CIS mortgage?
Yes, CIS mortgage applications generally require a deposit, similar to standard mortgages. Although it depends on your circumstances and lender criteria, most lenders may ask for a deposit between 5% and 20% of the property purchase price.
Can I remortgage with my CIS earnings?
Yes, remortgaging is possible using your CIS earnings. Our Liverpool CIS mortgage brokers can help you understand your remortgage options clearly, providing practical guidance based on your individual income and financial situation.
Contact CRC Mortgages Liverpool today and speak to our friendly CIS mortgage advisors to find a suitable mortgage solution tailored specifically to you and your circumstances as a CIS contractor.