Remortaging and Maternity Leave

Shortie

Evening all...

As a bit of a natural born worrier, I'm posting this question uuber early :rotfl:

I'm 4 month's pregnant and am the 'bread winner' (DH also works full time.) I'm due 21st August and my fixed rate is due to expire on 31st August (I didn't time that very well did I? :eek: )

At the very least if my baby is on time, I will be on compulsary 14 day maternity leave when the fixed rate finishes, so I will be makign financial changes at a pants time as far as a bank is concerned.

I'm likely to go for a fixed rate again as I prefer the stability of knowing how much I will pay each month, even if I end up losing out slightly through interest rate changes.

I worried how this will affect my application. While on Maternity leave I will be paid 100% of my salary for the first 3 months so I'm silly not to at least take that time off, and I'm not sure after that if I'll go back full or part time to my existing job (part time is only an option if we can afford the wage cut vs outgoings of course)

Has anyone been in a similar situation, or let me know what a 'usual' proceedure for a bank is? I realise different institutions may vary... If being on Maternity leave is a problem for most banks, would I be best to apply through my own employer, who is a bank? They have never come out as the cheapest so far, but they will have a record of my employment etc to know me better than another institution.

Sorry for the waffle...

Many thanks
Shortie

MortgageMamma

The bank will accept you as earning what you earn now if your employer will reference you will be returning FULL TIME - the cannot discriminate against a pregnant woman

Even if you knwo you wont be going back full time, keep your options open

Shortie

Thanks MortgageMamma... I was hoping it was going to be like that, but I can also see the flip side that I'd be seen as a higher risk. As you say, keep my options open... as long as I know I can afford it, I can always change my mind at a later date regarding full/part ime

MortgageMamma

By the way, forgot to say, good luck with the baby - I hope you enjoy every single minute of motherhood! x

Shortie

Thanks again... I already have one terror - 4 yrs old, hence thinking of part time. Looking forward again to the sleepless nights.... not... :rotfl: