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 am on a fixed term contract of four years (an engineering contractor). My contract started date earlier this year. I am looking for a three year fixed rate mortgage. Property worth £200,000, I want to borrow 132K. I bought the property four years ago for 138K and I currently owe 165k to JPMorgan
What criteria does a mortgage lender (for example JPMorgan) use to categorise someone as a contractor or self-employed. For instance does one have to own more than a particular percentage of a business?
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 peculiarities of being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.
Notwithstanding that I am a contractor (IT consultant) do I really need to have three years of accounts in order to apply for a mortgage with lend? Do JPMorgan even grant mortgages to contactors ?
Is it true that as contractor I would require a huge deposit up to as much as 50 per cent to qualify for a mortgage with JPMorgan.
The content set out above is in relation to properties in England and Wales.
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