getting a mortgage while on maternity leave is it possible?

ina_pickle

My husband and I are expecting our first baby in August so i will shortly be going on maternity leave. At the moment our house is on the market but the current advertising runs out next month.

We were hoping to be moved and settled in new house before baby came but our luck has it that wont be the case.

I am worrying now how easy it will be to get a mortgage while Im on maternity leave if at all possible. Both our wages are important when it comes to mortgage quotes.

Im worried that we will renew our advertising with the estate agents and if we sell not be able to get something else.

can anyone give me any advice as this is totally new area of finances to us.

thanks

Dave_Ham

Hi there,

Do not worry, banks are typically quite happy to still use your income. You will need confirmation from your employer you are returning and you may need to budget and declare childcare costs if applicable.

Good luck

ina_pickle

Thanks Dave,

I will be returning to work and will have no issue getting a letter to say that is the case , however I wont be able to get confirmation on how many hours etc as this is not something I legally have to discuss with my employer until around 8 weeks before my return (and im at the completly other end right now only just about to go off on mat leave)

i dont really want to discuss my desire for hours of returning to work until my work need this info if you know what I mean.

is a letter confirming you are returning enough? and if i tell them my intended return hours without it going through my employer?

mysk_girl

Nationwide only required a letter from me confirming I intended to return to work and an approximate date. Nothing from my employer beyond the usual payslips etc. I also had to say what hours I was EXPECTING to return on and what salary this would generate pro rata. I wrote it there and then in his office. I was 36 weeks pregnant at this point.

Dave_Ham

Was beaten to it, depends upon lender although most just want to see sight of your return so appreciate your situation.

ina_pickle

thanks guys this sounds pretty positive then that there is ways to still get a mortgage. I am happy to provide my intended return to work hours myself and i can get a letter from my employer just to confirm i am indeed going back no problem.

its a little early to look into this anyway as not sold (however already had signed missive sale but thats another story) but I just wanted to make sure if house does sell while on mat leave we can still look into buying a new house

thanks