Pregnant and put at redundancy risk + remortgage due, advice please

[PregnantAndRedundancy]

Posting shamelessly for traffic. Head is spinning abit. 26 weeks pg and have been put at risk of redundancy. Just had a terrifying thought we are due to remortgage, earliest date 1st Aug. Redundancy result (from going through the motions) will come a few days later.

I assume I need to pay the fee to remortgage now? DH can't cover the brunt of all bills and obv I was intending to be on paid mat leave.

Feeling abit f**ked right now.

You'll have to declare the risk of redundancy either way

Great.

Have you spoken to Pregnant Then Screwed? They have a helpline and can give you advice on your employment rights whilst pregnant x pregnantthenscrewed.com/help/

Good luck! x

you do have more rights in this situation when pregnant so worth doing and make sure you've declared your pregnancy to HR if you haven't already

Yes my pregnancy has been declared to HR. I guess what I was worried about is whether I need to tell the bank and what implications that might have.

If you're remortgaging with the same bank, they still have to offer you a deal. It'd only be troublesome if you were wanting to go to a new provider.

Also, you will get paid mat leave, even if made redundant. At this stage, they should pay you your maternity leave plus your redundancy entitlement.

Are you remortgaging with the same bank you’re with now? When we remortgaged it was just a click on their website, no new checks done at all.

When I last remortgaged with my current provider they didn’t ask me any questions really. I agree the only issue will be if you want to move provider.

good luck OP, definitely make sure you understand your legal rights.

Same provider, yes. Do I need to declare it now and pay early release the?

I will only get stat maternity pay right, I would lose my enhanced maternity pay? Sorry for the qs but I'm really worried obv with the financial situation.

Earliest I can remortgage is 1st. I will find out for certain job situation (i.e. redeployment options etc) on 4th

You should still get maternity pay as part of your redundancy package although I believe the company can choose to pay it as a lump sum. You should also have preference for any redeployment roles.

www.gov.uk/government/news/pregnant-women-and-new-parents-to-get-enhanced-redundancy-protections

www.acas.org.uk/sites/default/files/2021-03/managing-redundancy-for-pregnant-employees-or-those-on-maternity-leave.pdf#page6

I don't think you need to declare it now if you're remortgaging with the same provider.

I think you should still get the enchanted maternity pay, paid as a lump sum, though that may be down to your employer's discretion. I'm just trying to make sense of it on the maternity action website now.

Is your employer part of a union or do they have a robust redundancy/maternity policy/ies?

It's a big company so the maternity pay was set to be quite generous. I cant find any solid answers ATM on our internal systems. I've been there >10yrs so would receive ~30 weeks pay if made redundant

You'll be able to sign up for new mortgage product now

My mortgage is due September so earliest date is August without penalty I think

I'm with Santander. They start offering you the mortgage deals to renew 3 months before. It literally is click the website. I think they send you paperwork to sign. They don't do checks etc. There might be a fee but I also had options with no fee.
From their website - your bank might be similar...
A few good reasons why you might keep your mortgage with us

No legal or valuation fees

No credit searches or income checks

No application forms or new Direct Debit to set up

The same offers online as over the phone

So, give your mortgage provider a ring now and see what the options/prices are.
Don't mention the redundancy.

I've spoken to my brother today (he's a mortgage broker) as your thread got me thinking about my own mortgage which is due just before I go onto maternity leave. He said any bank will offer the chance to switch 110 days before the current deal is due to end.

He said between now and September (which is the earliest I can upgrade), interest rates are due to increase even more and he's recommend I search for a rate with a new provider now to secure a rate with a switch date of December when my plan ends.

So you might want to either speak to your current provider now, as you'll be within your 110 days for switching, and/or look at another provider for deals.

Thank you @TokenGinger I think I will need to call them tomorrow. We are with tsb and were told when we rang earlier in the year that we couldn't fix before August 🤦 not sure why

Why are you ringing and paying fees etc etc? I'm confused. Just go online and do it in a few clicks.