Mortgage after Maternity Leave

clementine06

Hi,

I'm currently looking to get a mortgage on my first property. I was working full time until I went on Maternity leave and returned 2 months ago on a 3 day week basis until my child settles into the nursery routine. As my normal full-time wage is different to what I'm currently receiving my application and pay slip/bank statement won't tally, therefore making my application appear as though it has the wrong information. I'm concerned about what to do or if in fact there is anything I can do as I won't get the same mortgage for the wage I've received the last couple of months.

If anyone has any information I would be so grateful.

Thanks

shonzyd

simple answer, is waiting not an option?

Let_Us_See

If applying for a mortgage during maternity leave a lender will often contact employer to check expected contractual hours and salary on return to work. Your situation is different as you have already returned to work, and therefore a lender will only accept your current salary as there is no guarantee you will ever return to full time employment.

Tearful1

My lender required a letter from my employer stating a date I would return and the salary I would be receiving. Do you have a contract with the exact salary you are now receiving on, they could then use this to work out affordability etc? I'm sure on your wage slips it would have said SMP or similar so they could see that was maternity pay.

shonzyd

Tearful1 wrote: »

My lender required a letter from my employer stating a date I would return and the salary I would be receiving. Do you have a contract with the exact salary you are now receiving on, they could then use this to work out affordability etc? I'm sure on your wage slips it would have said SMP or similar so they could see that was maternity pay.

The problem is she's already gone back to work and is no longer on mat leave. As another posted stated, there is no guarantee that she will go back full time.

Goldiegirl

If you need a full time salary to apply for the mortgage, you'll need to go back to work full time straight away,(or as soon as you start looking for a property).

You'd also need to explain to your prospective lender why your income has been short for a couple of months.

The lender will probably write to your employer to confirm your income and hours