We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Mortgage and maternity leave?
zombeana
Posts: 130 Forumite
I want to apply for a mortgage next year around March as I will have enough deposit at that time.
However - I am on maternity leave and will be until April and between Jan-March I will be on extended leave at £0 pay salary wise. When I return, I will be on a slightly reduced salary and will be paying childcare.
My questions are - will they only look at my previous 3 months pay slips which will be £0? Or my salary overall at my job?
Also will they want to take my childcare costs into account, if so - how do they work it out of I get childcare vouchers which are taken BEFORE tax? Same with my student loan?
Thanks
However - I am on maternity leave and will be until April and between Jan-March I will be on extended leave at £0 pay salary wise. When I return, I will be on a slightly reduced salary and will be paying childcare.
My questions are - will they only look at my previous 3 months pay slips which will be £0? Or my salary overall at my job?
Also will they want to take my childcare costs into account, if so - how do they work it out of I get childcare vouchers which are taken BEFORE tax? Same with my student loan?
Thanks
Comping Since June 2016
Wins:
Trunki, Cranberry snacks, Astonish cleaning hamper, Organix kids box, Abode tap, Cath Kidston tea set and cook book, £300 Sainsburys voucher, £152 Clarins hamper, Foot care gift set, Aromatherapy associates body balm, tickets to Winter Wonderland Nutcracker on ice.
Wins:
Trunki, Cranberry snacks, Astonish cleaning hamper, Organix kids box, Abode tap, Cath Kidston tea set and cook book, £300 Sainsburys voucher, £152 Clarins hamper, Foot care gift set, Aromatherapy associates body balm, tickets to Winter Wonderland Nutcracker on ice.
0
Comments
-
It's usually last pre-maternity payslip and return to work letter which confirms date and salary.
Lenders use gross annual income, so your student loan and monthly childcare cost will be taken into account at that level regardless of how you pay for it, from gross or net income.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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards