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  • FIRST POST
    • LynnLegend
    • By LynnLegend 10th Jul 17, 8:27 PM
    • 15Posts
    • 4Thanks
    LynnLegend
    Mortgage up for renewal during maternity leave...
    • #1
    • 10th Jul 17, 8:27 PM
    Mortgage up for renewal during maternity leave... 10th Jul 17 at 8:27 PM
    Hi all,

    Our mortgage will be due for renewal while my wife is on maternity leave earning statutory maternity pay. The jump in fixed period to SVR is relatively high (although we will be able to afford it) but ideally I would like to refix again at (hopefully) a lower rate - if I stay with the same lender (PostOffice/BankofIreland) are they liable to ask for proof of income? I appreciate borrowing more or moving lender will almost certainly involve providing wage slips so we will avoid doing that.

    Would appreciate any guidance, I just want to keep this simple and refix if possible.

    Thanks in advance.

    LL.
Page 1
    • ACG
    • By ACG 10th Jul 17, 8:48 PM
    • 15,044 Posts
    • 7,607 Thanks
    ACG
    • #2
    • 10th Jul 17, 8:48 PM
    • #2
    • 10th Jul 17, 8:48 PM
    No idea what PO/BoI stance is, usually it is not needed with other lenders.
    However, it should not be an issue in the main. Most lenders will want to know if/when she will return to work and if it will be the same income or not and whether or not there will be any childcare costs.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • shinypenny
    • By shinypenny 13th Jul 17, 1:22 PM
    • 15 Posts
    • 2 Thanks
    shinypenny
    • #3
    • 13th Jul 17, 1:22 PM
    • #3
    • 13th Jul 17, 1:22 PM
    I re-mortgaged (from Britannia to Nationwide) during my maternity leave. All I needed was a letter from my employer confirming the date I was returning to work and my salary.
    • Boredatwrork
    • By Boredatwrork 13th Jul 17, 4:43 PM
    • 112 Posts
    • 63 Thanks
    Boredatwrork
    • #4
    • 13th Jul 17, 4:43 PM
    • #4
    • 13th Jul 17, 4:43 PM
    I can't speak for your lender, but I remortgaged with halifax about 5 years ago, it was done online, they asked for no extra proof, and the whole lot was done in about 20 minutes.

    If you changes lender, its a different matter.

    Just call them and ask what the procedure is and what the current deals are, that way you are prepared. Remember to jot down the important stuff (your LTV, your mortgage balance, what they consider your house is worth etc, and how close you maybe to the next LTV in case you can get yourself over the line for a better deal.
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