Contractor Mortgage Calculator

If you're a CIS contractor looking to secure a mortgage, the process can differ from standard employment. Our CIS Contractor Mortgage Calculator helps estimate how much you may be able to borrow based on your daily or weekly contract income.

Below, we explain how to use the calculator, the assumptions behind it, how the figures are calculated, and key considerations specific to CIS contractors.

Estimate your potential mortgage borrowing as a CIS contractor using your daily or weekly income rate.

How to Use the CIS Contractor Mortgage Calculator

• Select Your Rate Type: Choose whether your income is based on a daily rate or weekly rate.
• Enter Your Rate: Input your daily rate (e.g., £300) or weekly rate (e.g., £1500).
• Workdays or Weeks: If using a daily rate, enter how many days you typically work per week. If using a weekly rate, input the number of weeks you work per year.
• Click Calculate: See your estimated annual income and potential borrowing amount.

Assumptions used in the CIS contractor mortgage calculator

• Annual Income Estimate: Assumes 5 working days per week or 52 weeks per year unless adjusted.
• Borrowing Multiple: Based on an estimated maximum of 4.5 times your annual income.
• Consistent Work: Assumes steady contract work with no major gaps between assignments.
• Single Income Source: Only your CIS contract income is included in the calculation.

How your results are calculated

• Annual Income:
  • Daily rate: Annual Income = Daily Rate × Workdays per Week × 52
  • Weekly rate: Annual Income = Weekly Rate × 52
• Estimated Borrowing: Maximum Mortgage = Annual Income × 4.5

Key considerations for CIS contractors

• Contractor-Friendly Lenders: Not all lenders assess CIS income the same way, so specialist brokers can help.
• Income Evidence: You may need to provide contracts, CIS statements, or payment history.
• Deposit Requirements: A higher deposit (typically 10–15% or more) can improve approval chances and rates.
• Credit Profile: A strong credit history is important when applying for a mortgage.

Why use this CIS mortgage calculator?

• Designed for CIS Contractors: Reflects how lenders often assess contractor income.
• Quick Estimates: Get an instant overview of your borrowing potential.
• Realistic Benchmarks: Based on commonly used industry lending multiples.
• Better Planning: Helps you approach brokers or lenders with clearer expectations.

When this calculator is useful

• First-Time Buyers: Understand how much you may be able to borrow.
• Moving Home: Plan affordability when upgrading or downsizing.
• Pre-Application Planning: Set realistic expectations before speaking to lenders.

Calculation example

For example, if you are a CIS contractor earning a daily rate of £400 and working 5 days per week:

• Estimated Annual Income: 400 × 5 × 52 = £104,000
• Estimated Borrowing: 104,000 × 4.5 = £468,000

Based on this, you could potentially borrow up to £468,000. Adjust the inputs in the calculator to match your own working pattern for a more personalised estimate.

Getting a mortgage as a CIS contractor can feel complex, but having the right tools makes it easier to understand your position. This calculator gives you a clear starting point, though actual mortgage offers will depend on factors such as your credit history, deposit, and lender criteria.

For a more accurate assessment, consider speaking with a mortgage broker experienced in contractor mortgages. They can guide you through lender requirements and help you find suitable options based on your circumstances.

Start by using the calculator to get an estimate and plan your next steps with confidence.

Request a Call Back from a Mortgage Specialist

If you’re unsure about how to proceed or need personalised assistance, our contractor mortgage specialists are here to help. Simply fill out the form below, and one of our experts will get in touch with you.

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