How do I calculate my gross pay as a CIS Contractor?
Use your Gross Pay
If you are in the construction industry and get paid via the CIS scheme, we can use your CIS statements as pay slips; this means you can use your gross pay, be tax-efficient and still get the mortgage you deserve. The rates you are offered do not change, you aren’t penalised in any way for using your day rate or CIS statements, and there are many high street banks offering mortgages for contractors.
3 Months CIS Statements
Jones & Young have lenders who are able to use your gross pay averaged over the last three months to calculate your affordability. Lenders only require 3 months CIS Statements as proof of income.
Only 5% Deposit
Even when using your CIS gross pay, you can still qualify for a 5% deposit mortgage, subject to your credit score.
Purchase or Remortgage
You can even purchase or remortgage using your CIS gross pay, with as low as a 5% deposit.
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Top quality service - I needed help getting a mortgage due to being self-employed and a complex case. Richard and Mark have incredible knowledge of the market and were able to work out which providers would look favourably on my...