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Construction Industry Mortgages

Working in the construction sector has endless complications; from obtaining insurance to simply trying to buy a house. It would seem that life is never easy for someone working in the construction industry. The particularly annoying factor is that construction workers are essential to the economy and add a highly valuable contribution in terms of taxes etc. Wouldn’t it be nice if this would be taken seriously when it comes down to applying for loans such as mortgages?

If you’ve ever tried to apply for a mortgage at a high street lender then you are probably familiar with the painful application process and the likelihood that you will either get declined or be expected to pay over the odds on interest rates.

It feels a bit like the government is saying to the construction industry: “Thanks for building our homes, schools, hospitals, transport links and offices but you can’t have your own home. No, that is an unreasonable expectation.” You will know exactly what we’re talking about if you’ve gone down this road; it makes you feel undervalued and highly frustrated.

If you’ve reached the conclusion that you’re never going to get a mortgage, have you thought about going to a specialised CIS mortgage provider? Since the self-certification mortgages were banned some years ago, specialised CIS mortgage providers have been helping construction workers to get mortgages without the ridiculous demands that high street banks apply to people in this line of work.

Whilst banks can be unhelpful and show a lack of understanding based purely on your employment status, CIS mortgage specialists will be able to help you find a deal without asking for several years’ worth of accounts and will be able to offer you a mortgage deal that is based on your real income rather than restricting your lending amount. They will also have strict criteria regarding contract length, which isn’t always something that you can control.

If you’ve already spotted a house that you are interest in buying, they can quickly help you to be in a position to put in an offer, whereas if you go to a high street bank it is likely that the process will take so long that your ideal house will no longer be available.

Get out of your mortgage application nightmare - speak to a CIS mortgage specialist today so that you can buy your dream home.