I now have a formal mortgage offer from my bank based on my full salary rather than my maternity leave salary. In researching the market I have found that each lender tends to have a slightly different approach.
Some lenders want confirmation from your employer that you are going back to work and the date, in which cases they will work on your full salary, other companies will only take your maternity pay into account.
The table of mortgage lenders below includes the information they require to process your application during maternity leave, as of 18th May 2009.
|
Affordability Based On |
Evidence Required |
|
| Alliance & Leicester | Annual Salary | Recent salary slip and latest P60. |
| HSBC | Annual Salary | Letter from employer stating salary when you return to work & and your return date. |
| Nationwide | Annual Salary | Letter from employer stating salary when you return to work. |
| Northern Rock | Annual Salary | Letter from employer stating salary when you return to work & and your return date. |
| Royal Bank of Scotland | Annual Salary | Letter from employer stating salary when you return to work & and your return date. |
| Woolwich | Maternity Leave Salary | Letter from employer stating salary when you return to work & and your return date. |
Please share comments on your experience with mortgage lenders during maternity leave.
