Tariffs might impact mortgage renewal for ‘higher risk’ self-employed professions.

Stricter guidelines have kicked in for a handful of self-employed workers when it comes time to renew their mortgages.

At least, if their mortgage is with BMO bank.

“BMO recently introduced a policy shift that specifically targets self-employed borrowers in sectors they consider higher risk due to ongoing tariffs and broader economic uncertainty,” Mortgage Wellness broker and founder Nick L’Ecuyer said.

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