House purchase when pregnant

Sally1987

Hi

Just after a bit of advice really. Me and my husband applied for a mortgage in April. We made an appointment to see a mortgage advisor at our local bank. At the appointment were questioned about our finances and outgoings. We were also questioned about any dependants we have so we told the advisor we have one child. She then asked if we plan to have any more children in the future to which we answered "no" as we only planned to have one child. Little did we know at the time I was already pregnant with a second child which came as a complete surprise! Our mortgage was approved and we also received our final mortgage offer in the post.

My dilemma now is that we never thought to inform the bank about my pregnancy as we didn't realise it would be a factor that they would take into consideration when going through the mortgage application process but apparently, after doing some research on the internet tonight, it appears lenders take an applicant's financial situation into account in regards to maternity leave and also the fact that an extra dependant will affect an applicants financial situation. Also, due to a delay on the seller's side, we have not yet exchanged contracts and it is now very obvious that I have a pregnancy bump. We have just been to see the solicitor today to sign some paper work but we still can't exchange contracts due to our solicitor raising a few queries with the seller's solicitor which haven't yet been answered. As my pregnancy bump is now obvious, the solicitor made a comment about me having another baby on the way and asked when my baby is due so she is obviously aware that I'm pregnant. My baby is not due till October but I am now wondering what will happen with my mortgage. Should I tell the bank I'm pregnant and risk having the house purchase fall through due to having to have my mortgage reviewed/ withdrawn just before completion? or should I just carry on with the exchange of contracts and hope for the best?

csgohan4

If there is any significant change in income/health/life you must tell your mortgage lender, anything else is fraud.


Up to you what you want to do, we cannot advise you to commit fraud.

cahillg81

Check the affordaility via the lenders calculator. I think you will likely be ok but I would advise the lender. It's unlikely they will take any action even if affordability is reduced. Think about it this way what happens if you you were in the house a year and you fell pregnant?

silvercar

csgohan4 wrote: »

If there is any significant change in income/health/life you must tell your mortgage lender, anything else is fraud.


Up to you what you want to do, we cannot advise you to commit fraud.

Until you have actually given employer notice that you will be taking maternity leave, nothing financial has changed.

Even then, until you intend to stretch your maternity leave beyond a time on full pay there is no financial implication.

MortgageMamma

Who is the lender?

thriftylass

Also depends on how much money you will have while on maternity. We took our first mortgage together when I was pregnant and remortgaged during the second pregnancy. As I only took off 6 month and received about 75% of my income during that time it was ok. We just used the payslips from before as I was coming back to that salary after 6 months. But we definitely advised them on it and how we would financially situated during that time.