JPMorgan Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether JPMorgan offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about JPMorgan and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I have been dealing with a broker regarding my remortgage because I have just won a fixed term contract of four years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract begin date this year. I am seeking a three year fixed rate mortgage. Property worth 165K, I want to borrow £150,000. I purchased the property three years ago for 138K and I currently owe 120K to JPMorgan
I am a media contractor looking to buy a home in London. My next step is to secure a mortgage ideally with JPMorgan. Would it be wise to contact JPMorgan directly or seek the help of a contractor specialist mortgage broker who is used to dealing with contractors and JPMorgan.
I am finding the process of trying to obtain a contractor mortgage extremely frustrating. I can't seem to find any lenders who really understand my situation and the challenges faced being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.
Even though I am a contractor (in the Oil & Gas industry) is it necessary for me to produce at least six months of both business and personal bank statements as part of the vetting process for JPMorgan.I am not convinced that my broker is correct.
My research online indicates that mortgage lenders generally consider contractors as high risk applicants; so require 3 years’ accounts to validate mortgage affordability. In my case as a media contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a contractor-focused mortgage broker utilise bespoke underwriting with lenders such as JPMorgan.
The above information covers to properties in England and Wales.
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