Affect of being pregnant or dependents

JWalkden

Hi all,

Just looking for a bit of advice as I'm.

Me and my husband are looking to get our first mortgage together - our mortgage advisor did their checks and found someone who would accept us.

However we cant proceed until I receive some inheritance (in progress) however where I'm stuck is - stick to today and I'm now 6 months pregnant, I will be taking the full year mat leave which means no pay in the last 3 months (not an issue as some inheritance will be set aside for this) - but I believe mortgage lenders will want to now calculate my income at zero - is that correct?

Is there any different if we wait until I have given birth an declare a dependent? (obviously if done in the first year of birth I will still be on mat leave) or would we have to wait until the end of my mat leave next year?

Thank you,

amnblog

No, its not correct.

Most Lenders will work on your income on return to work.

They will allow for childcare costs and most often will ask for evidence that you have funds to bridge any drop in income during the maternity period.

JWalkden

Thats great! I just found loads of articles saying they take whatever the lowest income is over your Mat leave hence the panic. Do you know if before or after birth would make any difference?

Thank you again

amnblog

Before or after birth makes no difference. It all just need to be handled properly.