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Has anyone remortgaged whisky pregnant?

(43 Posts)
Expecting2017 Tue 16-May-17 11:11:46

If you remortgage when pregnant will they go on your full time wage or on your smp wage?

Expecting2017 Tue 16-May-17 11:12:52

Whilst not whisky!!!

TheChineseChicken Tue 16-May-17 11:14:14

You'll probably need a letter from your employer confirming what your salary will be when you return to work

AlbusPercival Tue 16-May-17 11:14:30

They go on amp, do you have savings to cover that period?

We went through London and country abd the broker took us to lenders who would be sympathies

MrsBellefleur Tue 16-May-17 11:16:30

Someone I know remortgaged whilst pregnant. They didn't tell the bank they were and wore loose clothing. They are not returning to work either which I think is a very bad plan!

Expecting2017 Tue 16-May-17 11:17:02

What is amp? No savings to show of yet no as I was on the pill as baby was most definitely not planned. I'm only nearly 12 weeks. Have a mortgage but have an ex partners name on so either have to do transfer of equity or they may ask us to remortgage altogether as an easier way of sorting it all in one.

Expecting2017 Tue 16-May-17 11:18:35

Bellefleur I will be returning to work and full time after either 6 or 9 months. Free child care as we both have large families willing to help.

NotAUserNumberSoNotATroll Tue 16-May-17 11:28:00

Yes I did, they used my pre maternity salary and HR confirmed I was going back to work....I actually ended going back part time but as that was agreed on my return it didn't get disclosed to the mortgage provider as it wasn't known at the time

SayNoToCarrots Tue 16-May-17 11:28:37

If you know what you will be able to afford whilst on maternity, I don't see why you should mention it.

Expecting2017 Tue 16-May-17 11:41:00

When we remortgage the payments will actually go down because when I bought the house I was a ftb and put down only 5% deposit. So had High interest rate of 4.49% my house has now made 65k since(had valued as thought of moving before found out about baby) and therefore online I'm being offered a rate of 1.34% because of the equity which will bring down my mortgage by nearly £200 a month.

Me and my partner are at an awkward stage as atm I earn higher at 22,330 a year and he only earns 15k as he's on an apprenticeship which will come to an end in June when he's fully qualified. He'll then be a fully qualified gas engineer and plumber so average wage in our area is usually 27k+ but he will be looking for another job that pays this as his current employer has offered him a mere 20k as he's trying to push him out of the company because he wants to get more apprentices in to pay cheaply.. So I'm not sure when to remortgage really!! If I went back part time I'd be on 15k so we would still be in a better position than now but I just don't want to go in and they say it'll be calculated on my lowest wage which will be the staturoty maternity pay for however many months.. I've never remortgaged I'm only 22 so pretty new to houses and definitely new to pregnancy and I'm panicking on what to do really x

Expecting2017 Tue 16-May-17 11:42:13

Notausernumber that is fab. Can I ask who you have your mortgage with? I'm with santander and hoping to stay with them otherwise ill have to wait till September to remortgage elsewhere to avoid early redemption fee. And I'll be due end of November so don't want to leave it that long really!

changingmylifecompletely28489 Tue 16-May-17 11:44:50

Can't help you but the whiskey thing was fabulous lol!

Expecting2017 Tue 16-May-17 11:46:28

Changing I wish I could have a whisky. Currently on holiday in Majorca and I've craved alcohol the minute I stepped off the plane hahaha

liquidrevolution Tue 16-May-17 11:52:10

I remortgaged to the same bank (Santander) so I could do it all over the phone. Made some non committal responses when asked whether I was planning on having any children. I was 8 months pregnant and the old fixed rate expired on my due date. blush

We were fortunate to be able to pay off a lump sum at the same time so the new payments were well within our reduced budget.

GrassWillBeGreener Tue 16-May-17 11:55:59

Things have changed so much in recent years. We moved house just after my youngest was born (nearly 12 years ago) - much bigger mortgage, especially at first as we sold later; arranged over the phone by my husband and they didn't need to know I was pregnant let alone already on maternity leave and only going back for the minimum time post leave.

I agree it could be in your interest to discuss your situation with a mortgage broker; a good one should be able to help with exactly your dilemma of when is the best time to remortgage. Good luck!

msannabella Tue 16-May-17 12:26:03

We remortgaged when I was on smp. It was really easy. All I needed to do was show my pre maternity salary and that was it. Didn't have to make any promises about going back to work etc. That was with tsb because they had a better rate but Santander were willing to accept it too. x

msannabella Tue 16-May-17 12:27:45

Btw that was last year and we went through a mortgage broker. Way better. He managed to give is options and we ended up being able to cut 2 years off our term by paying about £7 a month more!

Bearbehind Tue 16-May-17 12:41:48

Have you factored in the reduction in your affordability once the baby arrives- you'd have to declare a dependent then and, depending on your childcare plans, your affordability in the eyes of the lender could be heavily impacted.

If you are planning on staying with the same bank I'd be tempted to remortgage now, online so it's execution only, and you'll probably only have to sign a couple of forms and that will be it.

Not entirely ethical I know but if you're not due until November you might not know your are pregnant right now ............

Bluebelltulip Tue 16-May-17 12:50:48

I remortgaged at 8 months pregnant just looked at what I was being paid at the time.

Expecting2017 Tue 16-May-17 12:53:07

Thanks all. Bear its more than affordable as we won't be paying for child care and I plan on going back to work full time. And when we remortgage the mortgage will actually be £200 less a month so even better for the affordability. I'm hoping to do over the phone or online but I need to remove my ex from the mortgage and unsure if I can do that by transfer of equity or easier to do with a remortgage. I'm going to speak with santander when I'm back and try and sort that situation first I think to figure out if it's better to transfer and remove ex name and add my OH name. Or do a complete new remortgage.

drspouse Tue 16-May-17 12:54:35

I took out a mortgage while on SAP (adoption equivalent and same amount).

I first sent them in my previous payslips (still on adoption leave but on employers scheme so similar to previous salary). All happy. Then they said those were out of date so I had to send in the ones with SAP. Too little money coming in. Then they said I could either wait till I had 3 months pay after returning to work (would have had to wait too long plus more childcare costs meaning lower affordability).

It was for a rental property and they turned out not to have based it on rental income so we beat them round the head and made them use that instead.

We've just remortgaged again and made sure it did NOT include childcare in affordability. But I'm back at work 0.8 now.

Expecting2017 Tue 16-May-17 12:55:16

Thanks msannabella that's helpful to know x.

Bearbehind Tue 16-May-17 12:57:58

OP, it's not what you think is affordable that matters, it what lenders think.

I'm not being deliberately negative here, it might be fine, but as you are changing the partner named on the mortgage and your circumstances have changed it's not simply a case of it being fine because it's £200 less per month.

That's why loads of people get stuck renting even though mortgage payments would be cheaper.

Remortgaging whilst pregnant is perfectly possible but borrowing the amount you need when your circumstances have changed quite a lot is not necessarily so.

Good luck with whatever you do.

smu06set Tue 16-May-17 12:58:51

When you remortgage they ask you for the three most recent pay slips. If they show normal pay you will be fine, if they show maternity pay your income will be too low and you cant remortgage. So long as you do it before you go on maternity you should be fine.

EssentialHummus Tue 16-May-17 13:00:36

I'm another who just didn't disclose it.

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