Porting Mortgage on Maternity Leave

Gp2006

Hello

Thought I’d ask on here before I contact my lender. I’m with HSBC and looking to potentially move and borrow more. Have done a DIP with them based on what my pay will be when I return to work from maternity leave (in April). I was working part time previously (after previous maternity leave) and will be returning to this part time role. 

By the time we actually move I’d be back at work, but will I need to wait until I have 3 payslips before applying or will they accept the income without seeing the evidence? 

Thanks for any advice. 

kingstreet

Parental Leave (Maternity/Paternity)

Where any applicant is on, or is about to commence a known period of parental leave, for the purposes of assessing affordability, the overall lending assessment will be based on the "return to work" income details.Where the customer advises they will return to work on the same terms, the normal (pre-parental leave) income can be used. Any future child care costs should be incorporated in the affordability assessmentWhere the customer advises they will return to work on reduced hours, the reduced income and/or future child care costs should be incorporated in the affordability assessment. This should be done on a pro-rata basis based on previous incomeWhere the applicant indicates that they do not intend to return to work, or have yet to make up their mind, affordability must be assessed discounting their incomeIn all cases, the known period of parental leave and how the customer(s) intend to maintain the mortgage payments and subsidise commitments/lifestyle whilst on parental leave must form part of the affordability assessment, i.e. employee benefits, Statutory Maternity Pay (SMP), partner's income (where party to the mortgage), savings, etc.All dependent children including the new addition/s, should be included within the application

Proof Required;-

The latest one months' worth of payslips in line with Basic Salary requirements. For customers already on parental leave, where the full annual income is not evident on the latest months' worth of payslips, the latest one months' worth of payslips received prior to commencement of leave will be required.

Gp2006

That’s great, thanks for your help!