Mortgages for Tradespeople
Mortgages for Tradespeople
Electricians, plumbers, joiners, roofers and more. Whether you are employed, a sole trader, a limited company director or on CIS, lenders treat trade income in different ways. Here is how to make yours work.
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Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.
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Why It Can Be Tricky
Trade Income Comes in All Shapes
How you are paid matters more than what you do.
- ✓Employed: payslips and overtime, like any employee
- ✓Sole trader: usually based on tax calculations
- ✓Limited company: salary and dividends, or sometimes your share of profit
- ✓CIS: some lenders use your day rate or CIS statements
How We Help
How We Help Tradespeople
Five steps to the right lender.
Work Out How You Are Paid
Employed, self-employed, director or CIS.
Get Your Paperwork
Tax calculations, accounts or CIS statements.
Find Your Best Income Figure
Different lenders look at different figures.
Pick the Right Lender
Some are far better with trade and CIS income.
Work Around Your Day
Calls and messages that fit around the job.
Common Situations
Where Trades Often Need Help
If one sounds like you, talk to us.
Just Gone Self-Employed
Some lenders accept one year of accounts, or even less if you stayed in the same trade.
Check My Options →Common Questions
Tradesperson Mortgage Questions, Answered
The things trades ask us most.
Can I get a mortgage as a self-employed tradesperson?
Yes. Most lenders want one to two years of accounts or tax calculations.
Can I get a mortgage on CIS?
Often, yes. Some lenders use your day rate or CIS statements.
How many years of accounts do I need?
Usually two, but some lenders accept one.
Do lenders count my van finance?
If it is personal, usually yes. Business finance may be treated differently.
Can I use my company profits?
Some lenders will use your share of net profit, not just salary and dividends.
Will a bad year stop me?
Not always. Some lenders use the latest year, others average.
Related guides
- How much can I borrow?
- What affects mortgage approval
- Being mortgage ready
- All mortgage questions answered
Written by Tony Flynn, mortgage broker at Tony Flynn Mortgages, helping homebuyers across Lanarkshire and Scotland. This page is general information, not personal advice. Speak to Tony about your own circumstances.
Get in Touch
Tradesperson Looking to Buy?
Fill in the form and we will be in touch within one working day. Tell us how you are paid and we will find the right lender.