Pregnancy/ maternity leave and remortgaging

Mortgage_Mad_Millenial

Apologies if this is a silly question but I don't know where to ask it! 

Currently myself and husband are moving house and are remortgaging through the HSBC. We are porting our existing mortgage (80k) and borrowing am additional (80k) under a new mortgage as a 5 year fix.

Currently we are fully employed and have no immediate plans to start a family. However, if we go with our plan to port the current mortgage this will expire in November 2024. At this time we would be looking to start a family so I could be pregnant or on maternity leave during the mortgage application. Is this something they'd ask as part of our application for a remortgage?

Assuming I am with my current employer at the point of remortgage I would get 6 months fully pay whilst on maternity. Our plan would be to save before I go on maternity leave to ensure we had plenty of funds to cover any months I was not working. 

However, as I am the highest earner I am wondering how HSBC generally view pregnancy at the point of remortgage and want to ensure we will not be sitting ourselves a nasty hole by porting our current mortgage.

Mortgage_Mad_Millenial

*digging ourselves a nasty hole!

Edi81

You are overthinking things. 

Does your mortgage really expire or just the rate? If the latter (much more likely) then you just switch product with HSBC. 

Emmia

If at the end of this fix, you stick with HSBC for another fix, then it's another product, not a full remortgage and you do it online via internet banking.

If you move lenders, you will be doing a remortgage, with all that entails.

If you don't do another fix, your mortgage payments to HSBC will automatically switch to the SVR for the rest of the term.  The bottom line really is... will you be able to keep paying the mortgage when you're on maternity leave, and for childcare/child expenses + mortgage when you've gone back to work?

That's mostly what the bank will be interested in.