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!

When you put the application in on the 4th November, what does that entail - is it all the documents as well? I would perhaps speak to a broker. They must have come across this kind of situation before.

I used a broker in this situation, the mortgage was based on my regular salary and they just took my word that I was going back. On this logic, it would be your part time salary. We were placed with Halifax who apparently are one of the more 'forgiving' lenders as DH also had historic defaults.
A broker will probably be money well spent for you.

You can put £0 and then explain your on mat leave. They’ll ask you what you intended to return on and use that income in most cases. They have to ask if you’re income is due to decrease. You can always answer yes, if you intend to take a reduction. Please ensure you declare your child on the application form.

I used to work in mortgages.

Thanks everyone. All confusing as a first time buyer and think I'm just panicking! As it's the shared ownership scheme, I think we have to go through a mortgage broker anyway (Key Solutions). Thanks again!

They can't discriminate because you're on maternity, so it'll be your full time salary of part time salary depending on If you've told work that you're going part time yet.

The question should be your current salary though because income might be made up of a number of things. Then you tell them separately you're on maternity and how you'll pay for those last months.

But it depends on the exact wording of the question.

@moonk98 we got a mortgage while i was on maternity leave, just had to get a letter from my work stating they are expecting me back on certain date at the same salary i was on before i left.

I also got a mortgage on mat leave. My work had to write a letter stating my return date and salary. I later pushed the return date back but had already moved and secured the mortgage.

I moved last year, while on maternity leave. The broker used my normal salary and my employer was asked to provide a short letter confirming my conditions. All very straightforward, ended up with Halifax.

Interestingly, we were never asked how we’d fund the mortgage until I returned to work (I’m the main earner).