Maternity Mortgage Break - C&G

kattwood

Can anyone help because it seems C&G can't until its possibly too late!!

I am currently pregnant, due in June. My mortgage advisor told me it was possible to get a maternity break through C&G so I called them. As we have only been with them since April they can't discuss a mortgage break until exactly a year after we joined them.

This means that I have to call back in May (a month before I am due) and then we have to match certain criteria and it depends on the equity in the house.

I was relying on this money to allow me to take some time off with the new addition with the confidence that the payments will be covered and now I will not know until I am actually due!! Ridiculous!

Has anyone been in a similar situation or know what the "criteria" is? We have never missed a payment or anything and were the same with Northern Rock who were our previous mortgage was with.

Worried now!!!!!!!!!!!!!!!!!!!!!!!

_Andy_

If you give C&G a call they will let you know what the criteria are.

kattwood

Thanks for your reply ..... If only it was that easy, they would not give me any information until a year of paying the mortgage.

Brodiebobs

we tried to do the same thing with C+G bought house in june 2007 for 95k mortgage was 80k tried to take break in sept 08 and told house was in negative equity so they wouldn't allow. Over phone according to their index property was only worth 72K!!!!! don't know where they got that from as when i rung next door neighbours had just exchanged contracts for 110k and theres has a bedroom less than ours!!!
Any way long story short we just cut back everywhere else and managed, in hindsight it was prob the best thing really as the break only makes debt larger and after finding this site were trying to overpay to reduce!

kattwood

Thanks for your reply ....... our mortgage is £185,000 and bought the house for £230,000 2 years ago. The market is pretty shocking at the moment but I can't think for a second we would be in negative equity but I guess you just never know.

I wish we could make cut backs everywhere else but we have done all we can and it has made no difference.

Really starting to worry now. The government should not penalise people who have there own home by giving them no benefits and crappy SMP!! :mad:

Brodiebobs

I understnd what you mean, i know for a fact were not as had house valued a few weeks ago and they said 115k, i know thats not a sale price but its alot more than 72k!!! But if their 'systems' wont allow it theres not much you can do. Have you thought bout interest only for a while instead of full break?
I know you prob know this from been on the site but dont forget you'll get tax credits and child benefit, not much but will help.
Dont forget as well babies grow fast and the temptation with your first is to splurge but it really is a waste if there only in things for a few weeks, accept hand me downs and start saving any money while your still getting paid now!!!

kattwood

Thanks again, thankfully its my second so we already have nearly all the stuff. Luckily last time I was in a position where I was earning more money therefore was able to put quite abit away to have 7 months off but this time around I am with a different company earning alot less and therefore do not have any surplus income at all.

Arghhhhhhhhhhhh ..............

Thrugelmir

kattwood wrote: »

Can anyone help because it seems C&G can't until its possibly too late!!

I am currently pregnant, due in June. My mortgage advisor told me it was possible to get a maternity break through C&G so I called them. As we have only been with them since April they can't discuss a mortgage break until exactly a year after we joined them.

This means that I have to call back in May (a month before I am due) and then we have to match certain criteria and it depends on the equity in the house.

I was relying on this money to allow me to take some time off with the new addition with the confidence that the payments will be covered and now I will not know until I am actually due!! Ridiculous!

Has anyone been in a similar situation or know what the "criteria" is? We have never missed a payment or anything and were the same with Northern Rock who were our previous mortgage was with.

Worried now!!!!!!!!!!!!!!!!!!!!!!!

Why is it ridiculous? Assuming that you would have an automatic right was an oversight on your part not a fault of the lender.

Maybe you could consider extending the mortgage term you have? At least this would reduce the monthly outgoing. I assume that your mortgage is on a repayment basis.

redpete

kattwood wrote: »

Really starting to worry now. The government should not penalise people who have there own home by giving them no benefits and crappy SMP!! :mad:

In what way are the government penalising you? It was you choice to take on that mortgage, it was your choice to get pregnant.

kattwood

In reply to redpete - council house and benefits by any chance??
If you live in a council house and do not work you get every benefit under the sun. I know someone who pops out children like mad and lives in a council house and cannot be bothered to work because the government pays her so much she doesn't have to!! Why should me wanting to pay my own way (mortgage) and pay for my family cause me to not be entitled to anything!!?? I am no sponger!! Sorry if you think I am being harsh, but reality I am afraid!!

In reply to thrugelmir - the ridiculous that I said was to indicate not knowing until the month before I am due not the actual decision itself.

I came on this site to get some advice, not to get abused. Information and advice was required. If you feel you would like to verbally abuse please do not bother responding!!

Thrugelmir

kattwood wrote: »

I came on this site to get some advice, not to get abused. Information and advice was required. If you feel you would like to verbally abuse please do not bother responding!!

By all means let off steam. But accept that it was you that made life changing decisions in the past 12 months. Your lender is acting responsibly.

This forum is full of good advice some of which isn't always appreciated at the time.