Remortgage- Mat leave

[What2do22]

Morning,

We’re currently in the process of selling/buying and are planning to port our mortgage until expiry in October. I just realised this morning that I will be on Mat leave when we remortgage. Does anyone have any experience with this? My leave pay is awful (statutory) but I’ve been saving and I will be able to cover my bills whilst I’m off (10 months). Do they take proof of savings into account? Having a slight panic over here!

Shouldn't be an issue - I just had to provide payslips with my usual salary on them and the broker said I may have to provide a letter from my employer confirming my date of return and that I was returning on the salary that I'd given (e.g that my wages weren't going to change because I was reducing hours etc)

oh great, thank you. Made me feel a bit calmer through this stressful process haha.

just done same. Provide a letter from your employer with your salary on it, date of return and proof you’ll be coming back on the same terms/ salary.

We were looking to move when I was on mat leave and I worried about the same, but was surprised when we got a mortgage offer based on my normal salary, no questions asked. In the end we didn't end up moving at that point so I don't know if they would have asked any more questions if we actually got the mortgage

Hi @Lockdownmum1010 , did they ask for the letter in the end? We’ve just submitted an application and waiting to hear back.

My broker took 2 payslips from me, one before mat leave and latest one whist I’m on mat leave. They just asked me if I’m going back to work full time and I said yes. They said they may ask for a letter from work to confirm my return date and
my salary but they haven’t asked for it yet? Not sure if they are just happy with what the broker sent.

So far they’ve done the valuation and asked for more payslips from my husband as he’s paid weekly with overtime and night premiums. Apparently they are just finishing the final reviews….

Hello, nope they didn't ask for anything other than payslips in the end, all went through fine!

That’s amazing thank you for getting back to me!

fingers crossed ours will go through fine. We already have a mortgage with the same lender and have done for the past 5 years so I’m hoping it’ll be straightforward

If you stay with the same lender they don't do affordability checks anyway or at least my lenders never have.

They just write to you offering you a choice of new deals (like 2,3 or 5 year fixes) and you accept or reject.

They do if you are getting a new mortgage.

They don’t get checks done on us if we are staying where we are. We can just log in and choose which deal we want once our current one runs out.