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 concerning my remortgage because I am on a fixed term contract of four years (a media contractor). My contract begin date this year. I am seeking a three year fixed rate deal. Property worth £200,000, I want to borrow 132K. I bought the property four years ago for 138K and I currently owe 115k to JPMorgan
I am a media contractor looking to buy a home in Bedford. My next step is to secure a mortgage ideally with JPMorgan. Should I contact JPMorgan directly or seek the services of a contractor specialist mortgage broker who focuses on dealing with contractors and JPMorgan.
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.
I am finding the process of looking for a contractor mortgage very 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.
I am lead to believe that banks and building societies generally view contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a broker specialising in contractor mortgages utilise bespoke underwriting with lenders such as JPMorgan.
The above information is in relation to properties in England and Wales.
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