Maternity leave and mortgage application
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URL: https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=46840
Printed Date: 25 February 2025 at 3:58am
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Topic: Maternity leave and mortgage application
Posted By: Anonimoose236114
Subject: Maternity leave and mortgage application
Date Posted: 22 January 2019 at 11:29pm
Hi everyone!
I'm wondering if anyone else experienced our situation now or just anyone really who can share their thoughts.
Me and my wife purchased an off-plan property last year and put down 10% deposit and already committed to buying the property. Part of our due diligence was to get pre-approval from the bank which we did around that time. It was supposed to be done by end of the year but got pushed to early this year. With construction still going and no exact settlement date in the horizon, I'm starting to be concerned that it may actually be pushed out yet again.
Fast forward to few months after we committed, we learned that wife was pregnant which we were over the moon about it! We weren't planning to have it around the same time with the house purchase looming, but hey you know it happens! I was actually glad it happened because I didn't want her to give birth at a later age, now is as good as it's going to get.
So anyway, our situation now is, we will need to redo the home loan application and I'm anxious how our situation will affect our eligibility. I feel that we're quite good with budgeting and saving, in fact saved additional money to add to the deposit in the last year. We're also both earning quite decent salaries but I can't seem to shake the worry that we may not get approved this time with my wife taking maternity for 22 weeks (we've also set aside money to cover this period of reduced income) and wife is absolutely sure of going back to work at the end of the leave, problem is with this risk, we're still committed to buy the property!
I'm torn whether to tell our broker about the pregnancy or not, was hoping we can get the approval before she gives birth but with the uncertainty of the settlement date, we have to start thinking of a plan. If my wife goes on maternity before we settle, we won't have salary to show and that is a very worrying situation and I wonder if telling the broker about it allows us to plan around it, but I also know that they're obliged to declare it to the banks, hence the risk.
The worst thing about this situation is that I'm feeling guilty because I feel we're being held back from fully being happy with the baby coming because of this problem hanging over our heads in the last few months and several more months from now.
Thanks for reading! Just a really stressful time for us right now so any thoughts or words of wisdom will certainly help!
Cheers!
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Replies:
Posted By: LindaWaze237596
Date Posted: 09 April 2019 at 3:17am
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This situation really sucks! Unfortunately, the only way out is taking a loan. I know that this is not perfect but it is better than nothing. I recommend you to take here https://cashcat.ph/cash-loans-on-card-sure-approval-in-zamboanga-city" rel="nofollow - https://cashcat.ph/cash-loans-on-card-sure-approval-in-zamboanga-city to minimize the damage
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Posted By: Holly264735
Date Posted: 10 September 2020 at 12:32am
Hi Anonimoose236114
I am in the same situation you found yourself in.
Are you able to share how it worked out for you?
Cheers
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Posted By: Scott265349
Date Posted: 16 December 2020 at 12:06am
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this is a very interesting and great article, thank you for sharing it with us. I have been interested in mortgages for quite a long time, even when I first started dreaming about my own house. It was then that I began to collect information about all the risks associated with this case and the stories of people who had already taken out a mortgage loan. Then I found https://www.Manchestermoneyman.com" rel="nofollow - Mortgage Advisor Manchester who explained many details to me and recommended the right things, which later helped me to take out a mortgage correctly and without any problems and not regret it
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Posted By: Spot265350
Date Posted: 19 January 2021 at 3:17pm
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I know what you're talking about, in part because my family and I went through this last year when I lost my job and we needed money to deal with the loan issues. Fortunately, we came across an excellent specialist from https://www.Cambridgemoneyman.com" rel="nofollow - https://www.Cambridgemoneyman.com It was with the help of this professional that we managed to solve all these issues related to money and the deputy, we did not lose anything, but we were able to deal with all the problems. We were very lucky, I believe, because many of my friends lost several thousand dollars due to the fact that the payment was delayed, and this is not very good
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Posted By: Sabina266322
Date Posted: 17 March 2021 at 12:09pm
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Thanks for the information, guys!
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Posted By: Ann266334
Date Posted: 17 March 2021 at 12:17pm
Posted By: Rachel248052
Date Posted: 19 March 2021 at 11:29am
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Oh, it wasn't really easy to get it, but anyway I got fired some weeks ago, and I feel super stressed right now. My friend recommended me to try using jooble because he had a very good experience with this resource and I believe that I will try it too. Guys, what do you think about https://jooble.org/jobs/Norwalk%2C-CA" rel="nofollow - https://jooble.org/jobs/Norwalk%2C-CA ? I just thought that someone might have already used it here.... I will be very happy to hear such things here, so please write me here. I hope that someone will tell me something.
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