First Time Buyer mortgage broker disclosure

[Wuffleflump]

My partner and I have an independent mortgage broker with whom we have had an initial conversation. On our combined salaries and for the mortgage amount we want, there is no issue with affordability.

However, for non-financial reasons, we are now not in a position to move for over a year or so. We don't want this to set back our life plans, and we now might want to start a family before buying a home.

Can we ask our mortgage broker to re-run the numbers as a 'what if we have a child when we apply'? Would the broker be required to bear in mind an imminent family if, in the end, we didn't have one when we apply for a mortgage? i.e. we don't want this to prejudice our application if we aren't pregnant / with baby, but we do want some guidance as to what this means for buying a house if we had to.

Can we have frank discussions with our broker, or do they have a professional duty to disclose things/plans to the mortgage provider which are not on the actual application?

I don't really understand what you are saying.

If you can't move for over a year a broker isn't going to be able to carry out an application now anyway and is unlikely to want to discuss the matter further.

You can look at the high street lenders online affordability calculators and see the difference having a dependent makes but again, they're only a guide for an application made now, they can't predict what you might be able to borrow in a year.

In a year's time it might fe much more difficult to get a mortgage (or easier) depending on if the housing market crashes or not. We still haven't left the EU, and no one know what effect that will have. Your financial circumstances might be totally different if you have a redundancy/maternity leave/whatever unexpected things you can think of!

You can certainly ask your broker to do it but what you get back is likely to be pretty meaningless.