Getting a mortgage while on maternity leave

taliwillow

Hello,

My husband and I are looking at moving house and so will need to increase our mortgage by around £25k. I am currently on maternity leave as I am due to have a baby in about a week so have a lot longer left on maternity.
I was just wondering if anyone has any experience of applying for a mortgage when on maternity leave as yesterday when I spoke to the lender the lady said it shouldn't be a problem as I am still legally employed but I have just had a call from someone else at the lenders to ask me details on what my entitlement is for maternity leave as he wants to look into it as he says maternity leave is an awkward one.

Any information would be much appreciated.

Thanks

Taliwillow

sarkin

Can you take a new mortgage on your husbands salary. what is the loan to value for the new mortgage. If you speak to a mortgage broker make sure they are whole of market.

herbiesjp

As long as it is your intention to go back to work, a lot of lenders will be ok with it

taliwillow

Thanks for your replies.

No we wouldn't be able to get the mortgage just on my husbands salary and we can't go to a broker as we need to stick with our current lender as we are tied in to a fixed rate deal. To be honest I wouldn't be able to afford to go to another lender as the interest rate we are on (4.89%) is so good in comparison to whats out there at the moment that our payments would go up quite a lot if we changed to another lender, plus we would have to pay the £5k redemption fee.

Taliwillow

tigerminxy

I got a mortgage approved in principle last week, even after mentioning my wife was on maternity leave. The lender wants a letter from the employer confirming when my wife is due to go back and on what salary, but other than that, there isn't any problem. Admittedly my wife doesn't have long left to go on her maternity leave but if you have a track record with the lender, hopefully they'll lend you the extra anyway.