Applying for mortgage on MAT leave, please help!

[moonk98]

Hi everyone,

Sorry, I wasn't sure where to post this.

I went on maternity leave last November and decided to take the full 12 months off. As most know, the last 3 months of the 12 are completely unpaid.

My partner and I are desperate to move out and the only way to do this in our current situation is through shared ownership.

We're in the process of applying but it asks what my current income is. I can't put £0 can I? I'm due back to work mid November part time and HR have already informed me of my return part-time salary.

Our application for shared ownership for our desired property has to be in by 4/11/19 and then house will be available to move into from 02/20.

Anyone able to advise? Can I put on the current income my part-time return salary?

Thanks in advance!

[Eminybob]

Who’s the mortgage with? The lender I work for (nationwide) will use the salary you’ll be on when you return to work. They will need proofs ie letter from employer.

[moonk98]

@Eminybob Thanks for your response! As it's shared ownership I first have to apply through 'help to buy south west' to be accepted. And the mortgage will go through Key Solutions.

[blueskiesbrighteyes]

I'd wait until you go back to work. I had a nightmare with it. You won't get a mortgage whilst you're unpaid, regardless of your plans to return to work, as at that moment in time you have no income. I was full pay for six months and had to lie and say I was going back to work once the six months were up - obviously I just changed the date back again as soon as it was approved...

It's completely sexist and discriminatory but nothing you can do about it.

[RolyHappyNorrieTagBetty]

You can normally get confirmation from your employer of your agreed return date, so the mortgage lender will know that from x date you'll be receiving your full salary again (or the part time equivalent).

[Fraggling]

While you're on mat leave you are still employed.

It's a situation millions of women are in multiple times I find it rubbish that is treated this way.

Ring the lender.

[moonk98]

Thanks guys. I do have a letter stating my return date and income after this. All so confusing as a first time buyer! Thanks for your help.

[dimdarkashian]

Its based on your salary when you return to work. As long as you can demonstrate affordability during your unpaid months (ie savings) there should be no problem.

[moonk98]

Thank you @dimdarkashian. I'll start my part time salary fully the end of December and the house won't be ready until February anyway so hopefully they won't be too bothered about my unpaid months as it shouldn't effect our affordability!

[Adellegrace1907]

hi guys, I'm hoping for some Advice.
We have found our dream home, shared ownership. . We have a 15%deposit on a 45% share of the house.
The one thing that is holding us back is the fact we have a missed payment in the last 12 months. .
Does anyone have advice on this a broker that is willing to take this into account? We are struggling to find someone.

Thanks adelle