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Difficulty making payments

edited 30 November -1 at 12:00AM in Mortgages & Endowments
3 replies 556 views
Golden_Glow90Golden_Glow90 Forumite
83 posts
Fourth Anniversary 10 Posts
edited 30 November -1 at 12:00AM in Mortgages & Endowments
So while on maternity leave, I extended my mortgage term a little to save us some money on monthly payments. This was on the advice of a few people who work in the industry as they said if I took a mortgage break, it could affect me later if I needed to remortgage. Now I’m in a position where I can’t go back to work at the end of my 39 weeks and have to take the full year which puts us in a difficult position financially but now I’ve been told that because I extended my term, I’m not eligible for a mortgage break now. Anyone have any advice on where I can go from here? I’ve tried making savings wherever possible which has got us through to the end of my paid maternity leave but I hadn’t envisaged not being able to return to work for another 3 months (issues with my employer not sorting out my working pattern soon enough for me to arrange childcare).

Replies

  • spadooshspadoosh Forumite
    8.7K posts
    Ninth Anniversary 1,000 Posts Name Dropper Photogenic
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    Ive swapped nurseries twice, on both occasions she never missed a session (she went 3 times a week). Im amazed its taking 3 months for you to sort out childcare arrangements.

    Id recommend putting up a SOA (statement of affairs) and give the good people on here an opportunity to go over your finances and make suggestions from there.

    I think you got terrible advice from those people.
  • Golden_Glow90Golden_Glow90 Forumite
    83 posts
    Fourth Anniversary 10 Posts
    It’s because I’d secured a nursery but I was waiting for my work to tell me which days I’d be working but they’ve been awful at sorting it out and since I need to give my nursery 8 weeks notice, I’ve had to push back my start date and get my trade union involved to get work sorted and they said it can take up to 3 months.
  • Jonathan_KelvinJonathan_Kelvin Forumite
    317 posts
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    Can you not find another nursery, or use a childminder or nanny?
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