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 retained a broker regarding my remortgage because I have just won a fixed term contract of 3 years (an engineering contractor). My contract begin date this year. I am looking for a five year fixed rate deal. Property value £200,000, I want to borrow £150,000. I bought the property four years ago for £157,000 and I currently owe 165k to JPMorgan
Does the CML Lender's Handbook set out the requirements for JPMorgan when it comes to contractor mortgages or self-employed mortgages.
What criteria does a mortgage lender (for example JPMorgan) adopt to class a borrower as a contractor or self-employed. For instance does one have to own more than a particular percentage of a business?
As contractor looking for a mortgage with JPMorgan will they want to assess my experience, my history of contracting, the length of my current contract and the likelihood of it being renewed? If so I will start to get the paperwork together.
Is it true that JPMorgan quote higher interest rates when it comes to mortgages for contractors?
The content set out above is in relation to properties in England and Wales.
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