Drawdown on maternity

kitty13!

Hi, I was hoping to drawdown on my mortgage before maternity began but this is looking unlikely due to conveyancing delays.
I will be getting paid by my employer along with the maternity benefit for 6 months. Will the banks still allow me to drawdown. When stress tested I'd still have enough for an additional dependent?

House price is 192500
I've a loan offer for 175000, married sole applicant
45000 savings
My base salary is 55000 ( I earn commission on top, average overall income has been 70,000 gross over the past 3 years.. they didn't take commission into account at the time as was not in the job long enough)
On maternity- employer will pay 80% of my base salary and I will also recieve 245/week state maternity benefit. So basically will be earning the same

Henry Ford III

Paul Mears wrote: »

Joslin Rhodes can help with questions exactly like this

In the UK? I doubt it.

Trish56

You should have no problem. If the lender is looking for a recent payslip before the mortgage issues and your payslip shows maternity benefit just get a letter from your employer stating the date you are due to return from maternity benefit and confirm 80% salary payment.
Best of luck

kitty13! wrote: »

Hi, I was hoping to drawdown on my mortgage before maternity began but this is looking unlikely due to conveyancing delays.
I will be getting paid by my employer along with the maternity benefit for 6 months. Will the banks still allow me to drawdown. When stress tested I'd still have enough for an additional dependent?

House price is 192500
I've a loan offer for 175000, married sole applicant
45000 savings
My base salary is 55000 ( I earn commission on top, average overall income has been 70,000 gross over the past 3 years.. they didn't take commission into account at the time as was not in the job long enough)
On maternity- employer will pay 80% of my base salary and I will also recieve 245/week state maternity benefit. So basically will be earning the same