Mortgages When On Maternity Leave - HSBC?

Brinkster

Hi,

My wife is on maternity leave so currently on half pay plus basic statutory maternity pay. Which lenders would be safe to apply to in this position?

We would be able to provide proof that a full time job is open to her on the same salary at the end of her maternity leave, e.g. letter from employer.

We were thinking of using HSBC as they have a decent 5 year fix on offer. We have had a mortgage with them before, I have a credit card and some savings with them, and we have both had current accounts with them since our early teens... not sure if any of that has any bearing on things nowadays though.

Would they take into account her usual gross salary, or her maternity leave salary? Is providing a letter of the job remaining open to her sufficient? Any other considerations?

Thanks :beer:

Dave_Ham

Unless someone has recently been in the same position, it is unlikely anyone will know on here. HSBC do not publish all their criteria as they do not use brokers.

Most of the other traditional lenders will use pay when back from maternity, although most will want child care costs declared and included.

Good luck

Brinkster

Dave_Ham wrote: »

Unless someone has recently been in the same position, it is unlikely anyone will know on here. HSBC do not publish all their criteria as they do not use brokers.

Most of the other traditional lenders will use pay when back from maternity, although most will want child care costs declared and included.

Good luck

Hi,

It was more a general question, but HSBC in particular that we are interested in.

My wife hasn't yet agreed a formal return to work date with her employer, or on how many hours she will return - does this need to be done first, or will they accept a letter confirming the position is open to her on a full time basis when she returns?

Dave_Ham

Depends wholly on the lender, many will take an employer reference