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Original poster

Will being on mat leave hinder my chances of getting a mortgage approved?

14 replies

BlueFrenchHorn · 13/03/2014 19:47

I go back to work FT again in a couple months. Will a mortgage lender only look at the last few months payslips? (which is my SMP salary).

OP posts:

Rockchick1984 · 13/03/2014 21:59

Once you're back at work you should be fine, keep the payslips evidencing that it was SMP and then any that show you're back on full salary.

Original poster

BlueFrenchHorn · 14/03/2014 04:40

But what if I want to get a mortgage now whilst on mat leave?

OP posts:

Rachie1986 · 14/03/2014 04:58

Yes, I think it does.

I also read about people who couldn't get a mortgage approved once they went back to work as the lenders factor in the child care you pay and so their affordability dropped by a lot..

Perhaps see a mortgage advisor? Estate agents have free ones which would give you an idea at least xx

moonegirl · 14/03/2014 05:38

Not in my case, we applied for a mortgage whilst I was on mat leave (using a broker) I had to send in my last three payslips pre mat leave and the last three pay slips I'd recieved whilst being on mat leave.
I then had to write a letter to the mortgage company stating I intended to return to work.
We got a mortgage on my normal full time wage.

financialwizard · 14/03/2014 06:10

I'm writing a mortgage for a client who is on mat leave now and I just need to explain that she is going back to work and what she is doing for child care. Every lender is different, so you are best off seeing a broker, and estate agency ones do give free advice normally.

Original poster

BlueFrenchHorn · 15/03/2014 11:47

Thank you everyone. In terms of time scale how long roughly is it from applying for a mortgage and being approved / agreed in principle?

OP posts:

Wishfulmakeupping · 15/03/2014 11:53

I got a mortgage a couple of months before they will just write to your work to confirm

kutee · 15/03/2014 21:12

I got a mortgage on maternity leave

Original poster

BlueFrenchHorn · 16/03/2014 03:24

Great news, how long did it take you kutee? From application to approved in principle?

OP posts:

kutee · 23/03/2014 20:24

I had my daughter jan 2012, found our place February 2012. All completed and moved in June 2012. We looked for a mortgage broker who gave me incorrect information and told me no one would give me a mortgage because I was on maternity leave. Went to a bank to check and they told me that is not accurate. I got mine with Barclays.

kutee · 23/03/2014 20:26

I Also worked full time and still. Plus I have a good credit rating

AmethystMoon · 23/03/2014 20:28

I got one six months into my ML and had no issues. I think I just had to prove there was a job for me to go back to (letter from
HR).

trilbydoll · 23/03/2014 21:56

We have just remortgaged. We used Which mortgage advisors and they said some lenders are better than others with smp. Our new mortgage is with Santander. Took about 4 weeks of actual work, there were other delays because I was slow sending paperwork back.

MrsBungle · 23/03/2014 22:03

I got a mortgage no problem whilst on mat leave. My work had to sign a form to confirm my 'normal' earnings and I had to confirm I intended to return to work.

We went through a broker and we got an in-principle certificate in about 10 minutes. I think that was just a credit check. The whole process took just a few weeks.

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