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remortgage and maternity leave
lovelola779
Posts: 4 Newbie
Any advice appreciated
Currently on mat leave full pay which ends changes for SMP for jan, feb, mar - I then intend to return to work back to full pay.
I am looking to remortgage with Barclays. I spoke to their broker who said I would have to get a letter from work stating I am returning in Jan on full pay or the application would get refused.
I have savings to cover my time off but they said that they would not take this into account. Also have a low LTV home is worth £400k and I am looking for £98k.
I think thats a bit harsh. Anyone have any advise ?
Many thanks
Currently on mat leave full pay which ends changes for SMP for jan, feb, mar - I then intend to return to work back to full pay.
I am looking to remortgage with Barclays. I spoke to their broker who said I would have to get a letter from work stating I am returning in Jan on full pay or the application would get refused.
I have savings to cover my time off but they said that they would not take this into account. Also have a low LTV home is worth £400k and I am looking for £98k.
I think thats a bit harsh. Anyone have any advise ?
Many thanks
0
Comments
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Wait until you return to work before remortgaging.0
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Try another lender?
Who is your current lender?
Why Barclays?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 -
I tried barclays as they gave the best rate I could find for my circumstances. 2.69% ... currently 5.89% fixed it 5 years ago thinking it was a good rate - If only I knew ha!
I really wanted to re-mortage and save myself over £175 per month whilst off.
I know that no-one has a crystal ball, do you think rates will remain about the same for the next 6 months?0 -
You have a fixed rate ending?
What customer retention offers does your current lender have available?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 -
Current lender Principality offer 3.49% fee free for 3 yrs. i think i can do a lot better... what do you reckon ?
Thanks0 -
It depends what you're looking for.
Judging by this thread, you can, yes;-
https://forums.moneysavingexpert.com/discussion/4260687I 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 -
Barclays give a month, I got my DIP (moving) on 1 October, returning to work tomorrow (arghh). To stick with barclays you may need to hold out for a couple ofmonths.0
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"I am looking to remortgage with Barclays. I spoke to their broker who said I would have to get a letter from work stating I am returning in Jan on full pay or the application would get refused. "
Why don't you just get a letter from work? Problem solved?Opening Mortgage balance as of 01.10.21 - £438,500.00 Current Mortgage balance as of 01.11.24 - £409,492.240
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