Subcontractor Mortgage
Advice
08000 306705
Subcontractor Mortgage Advice
08000 306705
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I thought I would take this opportunity to update our CIS readers with a recent success story. Chris contacted us as he has already been declined by most of the high street for a mortgage. His problem was that although he is self-employed he had just started as a CIS contractor with a building firm. Every bank that he approached told him to come back once he has 2 years of accounts as previous job was employed. After completing a fact find on the customer our advisors told him that he only needed to wait 1 more week to get his third invoice from the contracting firm and this would be enough for a mortgage.

He waited a week and sent our advisor the three months of invoices and corresponding bank statements. Chris was paid £170 day and worked 6 days a week for 3 months. This meant that his useable income for a mortgage was £53,040 and he was able to borrow though our CIS mortgage advisors £265,000.
It took the transaction 6 weeks to go through before Chris could move in and there were no shortage of colleagues in the construction firm to help renovate his new home

Your home may be repossessed if you do not keep up repayments on your mortgage
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