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Original poster

DP told mortgage advisor I was pregnant

70 replies

ForeveronEtsy · 05/05/2021 10:50

I don’t know the ‘rules’ on this but I have read that I do not need to disclose? I am 6 months pregnant and we are applying for a mortgage. We had a mortgage in principle for £320,000. DP mentioned we had another child on the way and after updating our form they are only offering £215,880!
Obviously I know there would be a change but this seems like such a massive difference??!
Apologies if I am being ignorant as I am a first time buyer and this is all knew to me.
Any advice/experience much appreciated! What do we do now?

OP posts:
Original poster
ForeveronEtsy · 05/05/2021 10:51

Sorry I meant in our meeting with advisor this morning, he mentioned it. My face must have been a picture.

OP posts:
delilahbucket · 05/05/2021 10:54

You aren't obliged to tell them as such and they can't ask, however you do have to tell them of any changes in circumstances you are aware of that will affect your finances. If you didn't and then suddenly you can't afford your mortgage but you're on one income with a dependent, the onus would be on you.

Original poster
ForeveronEtsy · 05/05/2021 10:58

Thanks @delilahbucket I completely understand that. It’s just a bit odd as baby is not born yet but he still put ‘2 dependants’ rather than 1.
But on the other hand couldn’t include the extra child benefit I would be receiving for baby.
Seems very contradictory.

OP posts:
Crikeycroc · 05/05/2021 11:00

I believe this is fairly standard. A friend who was unexpectedly pregnant and desperate to buy a house before she had her baby dressed in loose fitting clothing for all mortgage appointments and never said a word.

RickiTarr · 05/05/2021 11:02

OMG. I’d have murdered him.

Was this a broker or an in house advisor? Sounds like in house?

I’d just go elsewhere (and staple your OH’s mouth shut!)

namechangemarch21 · 05/05/2021 11:05

I had a colleague who stared down a mortgage adviser at 7 months pregnant. She was a single mother too - she needed that mortgage to go through, and knew she'd have no problem paying it vs rent (she didn't, got her house and raised her daughter in it).

Everyone I know frantically tried to get mortgage approval and house over the line before baby arrived. My understanding was, once baby isn't here yet, they can't factor it in because they don't officially 'know' if you will take leave/have to pay for childcare/etc etc. I would go somewhere else, not mention it, and move quickly - if the paperwork isn't through by the time the baby arrives it definitely does have to be mentioned.

MadeForThis · 05/05/2021 11:06

Use another mortgage advisor

Feedex · 05/05/2021 11:07

I'd be furious with your Dp if I were you, what a twit.

IamnotH · 05/05/2021 11:07

He's an idiot and I can help you to dig the hole if you like. You were not obliged to tell them that. I'm not sure what you can do now other than look for another MiP- they can't unknow it! Sorry OP.

I

Feedex · 05/05/2021 11:07

Get another advisor or apply and state you have ONE dependent - which you do.

delilahbucket · 05/05/2021 11:08

@ForeveronEtsy

Thanks *@delilahbucket* I completely understand that. It’s just a bit odd as baby is not born yet but he still put ‘2 dependants’ rather than 1. But on the other hand couldn’t include the extra child benefit I would be receiving for baby. Seems very contradictory.
In three months you will have a second dependant though. That is likely to be a given. Benefits on the other hand, until you are getting them, aren't a certainty. There are a lot of factors that could mean you won't get any benefits. A lot of lenders only count half of benefits too if at all. If you get child benefit, you'll get an extra £40 every four weeks, if they only take £20 of that into consideration, it really isn't going to make much difference to how much they will lend.
ThankYouHunkyJesus · 05/05/2021 11:08

The baby isn't a dependent until it's born! Find another advisor.

TakeYourFinalPosition · 05/05/2021 11:15

The mortgage advisor has followed the guidance from the Council for Mortgage Lenders. They can’t ask if you’re pregnant, but if you confirm you are. They should assess your mortgage on the basis that the additional dependent already exists, and include childcare costs to be factored in, to prevent overlending.

If you were using a broker, they don’t have to disclose that you’ve told them... but if they’ve already passed it on to the bank, there’s nothing you can do there, you’ll likely have to find a new bank.

Maternity Action recommend looking at product transfers when you’re in the last trimester so you don’t need to lie to any questions around if you’re expecting changes to your income in the next few years, but that only works if you’ve got a mortgage already.

I’d probably want to kill him, but I hope you can still get your mortgage!

BarbaraofSeville · 05/05/2021 11:17

Have they assumed you'll be giving up work or possibly that you'll be spending all your earnings on childcare if you go back to work?

If you're getting a decent maternity package, your income could stay more or less the same and the extra cost of a second child might not affect your disposable income that much, depending on how you arrange things (family childcare, working offset shifts etc).

Maybe start again with an online broker if you need the larger mortgage, and don't mention the impending arrival (although there's sometimes a question about anticipated changes to income or outgoings that you might have to answer). Providing that you've thought carefully about affording the mortgage once you have 2 DC and the affect of childcare costs etc, they don't really need to know about your new baby.

After all, your DH (or you) could lose your job the day after you take out the new mortgage and that could have a much bigger impact on your ability to pay it.

notalwaysalondoner · 05/05/2021 11:27

I would switch to another broker/advisor - they're normally free. It might lose you a week or two as you'll have to go through all the rigmarole of sharing your financial information and getting approval again, but it's worth it if it increases your mortgage by £100k.

The only reason not to do this is if you genuinely would be really overstretching yourselves to borrow the original amount - but as long as you're confident you can afford it with two children once you've factored in childcare etc. then I would definitely do it.

PanamaPattie · 05/05/2021 11:28

What a twat. Find another advisor but don’t take DP unless he’s gagged as he’s a liability.

PowerslidePanda · 05/05/2021 11:58

How confident are you that the purchase will go through before the baby arrives? You could find yourself in a pickle if you're progressing with the purchase and suddenly find your mortgage offer withdrawn because you now have an extra dependent and no longer pass the affordability checks. Even worse if that happens between exchange and completion - you stand to lose your deposit.

DeeCeeCherry · 05/05/2021 12:01

How sexist and discriminatory. 'Marked down' for being pregnant.

I'd do what pp's have already said, find another advisor and your husband would do well to keep his mouth shut.

YoniAndGuy · 05/05/2021 12:01

Hope he's suitably abashed looking at your new mortgage offer Angry what a FOOL!!!!

idontlikealdi · 05/05/2021 12:04

@DeeCeeCherry

How sexist and discriminatory. 'Marked down' for being pregnant.

I'd do what pp's have already said, find another advisor and your husband would do well to keep his mouth shut.

It's not sexist and discriminatory, it's about affordability. If OP is on a year ML at full pay and can prove it it wouldn't be an issue, if she is on a year ML on SMP then it could clearly impact affordability.

Your husband was a prat for saying anything, just find a new broker.

FixTheBone · 05/05/2021 12:16

@DeeCeeCherry

How sexist and discriminatory. 'Marked down' for being pregnant.

I'd do what pp's have already said, find another advisor and your husband would do well to keep his mouth shut.

Is he OK to say ' I told you so' if the house gets repossessed down the line if it becomes unaffordable?

People have very short memories of a financial crisis, that, was in part caused by both borrowers and lenders bending the rules and pushing the boat out when it came to assessing affordability, which is why the regulations and processes were tightened up significantly.

Bluntness100 · 05/05/2021 12:22

Um some of these comments are just weird.

Op you’re having a baby in three months, it’s very likely yout sale won’t even have concluded at this stage. So he will have two depenendents and clearly child benefit of 20 odd quid a week isn’t going to make any difference

Do you Intend to keep working? Do you have enhanced maternity pay? This is not about getting as much as you can but getting what you can afford.

Frazzled2207 · 05/05/2021 12:27

Go and speak to another advisor and tell your husband to shut up.
It’s the kind of thing my dh would do- he’s far too honest.

StylishMummy · 05/05/2021 12:29

Unfortunately another dependant will have a massive impact on your affordability, especially as lending criteria is tightening in anticipation of a market stall in coming years.

I'd go to a different broker/mortgage provider and not mention a word but get it done ASAP before maternity leave/baby is born.

Bluntness100 · 05/05/2021 12:32

@Frazzled2207

Go and speak to another advisor and tell your husband to shut up. It’s the kind of thing my dh would do- he’s far too honest.
This is ridiculous. Affordability checks are there for a reason. Children are expensive, it’s terrible advice encouraging someone to lie to get a bigger mortgage Than they may ultimately be able to afford.
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