On Maternity Leave with temporarily reduced income ? – no problem.

On Maternity Leave with temporarily reduced income ? – no problem.

Recently we completed on a case where a young couple had recently had their first child and were looking to buy their first home.

The young mum was still on maternity leave and not due to go back to work for another 6 months, but the couple wanted to complete on their new purchase as soon as possible, allowing them time to settle into their new home with their young baby.

One of the issues we faced was that the new mum was now receiving a reduced lower maternity pay, and we needed to use her full salary to achieve the mortgage amount required.

By getting an email confirmation from her employer to confirm the actual date of her return to work, together with confirmation of her ongoing salary, we were able to use her pre-maternity income to allow us to achieve the mortgage offer and allow them to move in.

We still did our due diligence to ensure the new mortgage payments were affordable to the young couple, and we obtained confirmation from them that they could afford the payments for the period before she returned to work, with the assistance of some savings they’d put aside.

So, if you’re on maternity leave, or planning further additions to your family, but are considering moving home, or coming to the end of an existing mortgage deal, then do not worry. 

As long as your current employer can confirm your intended return date and salary, then we can help. So, why not get in touch with us at Adept Private Finance today?

Tel (Mark) – 07973 502949

Tel (Andrew) – 07971 519735

Adept Private Finance is a trading style of I-Property Finance Limited, which is authorised and regulated by the Financial Conduct Authority. Our Financial Register Number is 734423

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