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Mortgage & Maternity Leave
xxSaffronxx
Posts: 102 Forumite
Im currently on a variable rate with my lender and pay £410 per month.
I will be going on Maternity leave in 4 months and wondered if it would be worth my while fixing my mortgage? Looking at the price comparison on Money Supermarket I can fix it for 5 years and repay £410 per month also.
Obviously once im on Maternity Leave I will not be able to fix it as my income will not be enough on paper when they do a credit check
I will be going on Maternity leave in 4 months and wondered if it would be worth my while fixing my mortgage? Looking at the price comparison on Money Supermarket I can fix it for 5 years and repay £410 per month also.
Obviously once im on Maternity Leave I will not be able to fix it as my income will not be enough on paper when they do a credit check
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Comments
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If you can fix for 5 years for the cost you are currently paying then no brainer...
Good luckI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0 -
Usually with maternity all they need is confirmation that you will be returning to work full time at the end of the maternity leave; rememeber threads elsewhere that unlawfull for companies to Discriminate on the grounds of Maternity leave..0
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Are you remortgaging to a new lender to get that rate?
Have you asked your current lender what customer retention products it has for someone on standard rate not moving home?
Moneysupermarket will not show the retention rates I mention.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Usually with maternity all they need is confirmation that you will be returning to work full time at the end of the maternity leave; rememeber threads elsewhere that unlawfull for companies to Discriminate on the grounds of Maternity leave..
I will not be able to provide this proof as I would need to apply for another job as my current one is a temp contract0 -
kingstreet wrote: »Are you remortgaging to a new lender to get that rate?
Have you asked your current lender what customer retention products it has for someone on standard rate not moving home?
Moneysupermarket will not show the retention rates I mention.
Yes im currently with C&G and the new rate is with HSBC0 -
You on standard rate, 2.5%?I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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kingstreet wrote: »You on standard rate, 2.5%?
Yes something like that0 -
Actually that rate is for 2 years not 5 years - just double checked0
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Are you sure you can secure a deal with HSBC?
They are very picky and strict lenders. As you mentioned you are on a temp contract, there might be some issues for you to get a mortgage from HSBC.
I would suggest that you have a backup plan with another lender in the background. If for any reason HSBC decline you can fall back to your next chosen lender at least.0 -
xxSaffronxx wrote: »Yes something like that
Then stick with it, if it is 2.5%.0
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