Remortgaging while pregnant

[Whataretheodds]

I desperately need to remortgage as already paying over the odds. I'm pregnant, due in the new year.

I'm wondering what to say in my application.

Current mortgage is on the basis of my salary only as I bought and lived here alone. Partner is moving in.

I'll get 6 months mat leave at full pay, then 6 months on SMP. Planning to split that 6 months with partner (who earns less than me) so we will budget to manage our shared costs while income is reduced, and then when we both work FT and we'll be paying for childcare.

Am I going to need to do a full budget for both of us to remortgage? Repayments will be significantly lower than I am paying now on SVR. LTV is > 60 %.

Kicking myself for not doing this months ago when I could have said I wasn't expecting a change to my income or circumstances!

If you stay with your current mortgage provider you don't usually need to do a full application again. If you move elsewhere, you will.

Though if your partner is planning to be in the mortgage as well I think you might need a full remortgage.

I did a remortgage whilst pregnant and our mortgage advisor said there’s no need to mention it, most application forms don’t ask, they only require 3 months’ payslips.

Just don’t tell them you’re pregnant. I’ve done it twice now, and I’ve just remortgaged 2 years later and announced I now have an 18 month old who wasn’t mentioned on the previous application, no one batted an eyelid.

Your partner can’t be on the mortgage unless they also jointly own the property so it’s still just going to be down to your income. Assuming your payslips are currently ‘normal’ I’d just remortgage now and not mention the baby (assuming you think you can cover the payments whilst on maternity leave) and in the future once you gave childcare.

I've remortgaged twice on maternity leave. 5 years ago and this year. Both times we stayed with the same mortgage provider. The rates were competitive and we felt confident selecting a fixed rate that we knew we could afford.