Pregnancy and mortgages

Rollinghills

We got out mortgage offer in last week and a thought crossed my mind that we better not get pregnant before we complete!

Of course that is ridiculous but it made me wonder whether one would have to declare pregnancy at some point. In the application they ask whether you foresee a change of circumstances - should pregnancy be mentioned? If you didn't but you had a child born between getting the mortgage offer and completion, should you declare it not to be guilty of mortgage fraud?

Contemptuous

The birth of a child would of course be viewed as a change in circumstances - there is someone else then dependant on you financially. They very rarely affect finances; one parent will often work part time and reduce their income, and there's childcare costs to take into account.

Rollinghills

Well I'm a stay at home mum and we don't get child benefit so a 2nd child would definitely impact on affordability.

But my question is just hypothetical and technical - at what point does the baby count - from the beginning of pregnancy? Or from x month? Or only from birth?

Malmo

@kingstreet has an informative post on this topic in this thread.

kingstreet

Blimey, I'm glad you remembered that - I couldn't!

Rollinghills

Thanks for the link.
So maybe I really should not get pregnant before completion lol!
Having said that, an estimated 30% of pregnancies end in a miscarriage so I don't know how lenders would take that into account.

Malmo

kingstreet wrote: »

Blimey, I'm glad you remembered that - I couldn't!

As well as having a half-decent memory, Google is a friend . The MSE forum search functionality is poor, so I tend to use Google's search operators to look for threads on specific topics - so for this, I typed the following search phrase into Google:

site:forums.moneysavingexpert.com pregnancy OR pregnant mortgage declare

Which tells Google to search:

The site forums.moneysavingexpert.com

For

either the words pregnancy OR pregnant

AND for

both the words mortgage + declare