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Mortgage offer extension - new child has arrived!
LEP
Posts: 137 Forumite
Looks like I may need to extend my mortgage offer as it runs out next week and completion may not take place by then.
However since we received the offer in Jan my good lady has given birth to our second child.
HSBC have advised they may extend the offer but will want a minimum of the last 3 months pay slips. This will show she is on SMP.
Obviously should it come to asking for an extension I will disclose that I now have 2 dependants and on their affordibility calculator we still meet it. I know HSBC will accept a letter from her employers advising that my other half will be going back to full time employment.
My only concern is will they factor in possible future childcare cost? We disclosed on my application we paid childcare costs for my son.
Our situation is that next year my mum is retiring in July and will then assist us with childcare but for 5-6 months we will have to be paying childcare costs for 2 children. This will be covered by savings I have but if I loaded this onto our outgoings it means we would not meet their affordibility.
Do lenders look that far into the future ref possible increase in outgoing?
However since we received the offer in Jan my good lady has given birth to our second child.
HSBC have advised they may extend the offer but will want a minimum of the last 3 months pay slips. This will show she is on SMP.
Obviously should it come to asking for an extension I will disclose that I now have 2 dependants and on their affordibility calculator we still meet it. I know HSBC will accept a letter from her employers advising that my other half will be going back to full time employment.
My only concern is will they factor in possible future childcare cost? We disclosed on my application we paid childcare costs for my son.
Our situation is that next year my mum is retiring in July and will then assist us with childcare but for 5-6 months we will have to be paying childcare costs for 2 children. This will be covered by savings I have but if I loaded this onto our outgoings it means we would not meet their affordibility.
Do lenders look that far into the future ref possible increase in outgoing?
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Comments
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Congratulations on your baby. You should call him Andrew. It makes all the other names look like a sack of dessicated rat turds.0
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They can look that far if they want to and they probably won't take your word for it that your mother is retiring.The J is a Financial Advisor-This site doesn't check anyone's status and as such any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Always seek professional advice.0
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They can look that far if they want to and they probably won't take your word for it that your mother is retiring.
Nor that your wife will be returning to work.Science adjusts its views based on what's observed.
Faith is the denial of observation, so that belief can be preserved.
:A Tim Minchin :A
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mildred1978 wrote: »Nor that your wife will be returning to work.
I know for a fact all they want is a letter from her employer saying she will be returning to her previous job.0 -
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Nah, I doubt they will accept the situation. Too "abnormal", no box to tick.mildred1978 wrote: »Nor that your wife will be returning to work.
Most lenders are usually happy to accept that this will happen.The J is a Financial Advisor-This site doesn't check anyone's status and as such any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Always seek professional advice.0
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