Maternity and Moving House

Shonamy

Hi there,

We are currently trying to sell our house and upgrade as we are having a baby in October. I am the main earner and wonder if moving once I have had the baby will affect the mortgage that we can get? Also, if we get a mortgage that we can comfortably afford whilst I am working (even taking into account the child care costs once I return to work), will we be able to get assistance with paying the mortgage while I am off on leave and on SMP?

Any advice, help and pointers towards the right information would be hugely appreciated.

Regards

Shonamy

flaura

if you are on SMP you will not get help to pay your mortgage...!!!!!!!

if you can't afford it when you are on maternity leave i would suggest that you cannot afford to move.?

Shonamy

Thank you I wasn't sure if we would be able to get help or not as I know that in some instances with rental properties that there is sometimes help available.
We can still definately afford to move but it just means we will have a lot less every week due to the fact that they will be taking a good chunk of my SMP back off of me in Tax! So no coffee mornings or any trips outside of the house while I'm off then, but budgetting can certainly be done!
I am more concerned about the mortgage and how obtaining a larger one would be affected as I earn about 2/3's of our joint income and obviously that will be going down quite considerably for the few months I am planning to take off. However, we can afford a larger mortgage (quite comfortably so before and after my maternity leave) but do they adjust the amount you are able to borrow due to the fact you are on SMP - even if it is just for a couple of months and I will be returning to the same role on the same pay?
it is taking longer to sell our house than we had anticipated as we had hoped to have it all done and dusted before baby arrives but I just want to be prepared for if we need to move house once baby is here. If the mortgage I am able to get varies considerably due to the fact i will be on SMP then it may well be worth moving once I come back to work and putting things on hold until then. As my weekly take home will be less than 20% of normal when I am off.


Thanks Shonamy

Thrugelmir

Suggest waiting until you get back to work before planning to move.

As why have something else to worry unnecessarily at such an important time.