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Wife will be on maternity leave for 1st drawdown

  • 12-11-2020 12:11am
    #1
    sonnybill
    Registered Users, Registered Users 2 Posts: 973 ✭✭✭


    Hello,

    First time poster in this section. Have mortgage approval for self build, we expecting our second child and my wife will be on maternity leave for first drawdown where both of us will have to give latest payslips !

    Any issue , at time of application we only had 1 dependent but please god we will have two ?


Comments

  • #2
    Trish56
    Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭Trish56


    Lenders now do a Covid Risk Assessment just before drawdown and you need to show evidence of income as in a recent payslip (within 1 month) and provide 3 months recent current account statements.

    Will your wife be getting paid when on maternity leave if so she just submits her payslip together with a letter from her employer stating the date she is due to return from Maternity leave. If not getting paid you also need to submit letter from employer. If you have baby before drawdown then your net disposable income will change so a married couple need to have €2550 left over per month after stressed mortgage repayments and any other deductions.
    If you're with a broker, contact the broker who will do the calculations for you.

    sonnybill wrote: »
    Hello,

    First time poster in this section. Have mortgage approval for self build, we expecting our second child and my wife will be on maternity leave for first drawdown where both of us will have to give latest payslips !

    Any issue , at time of application we only had 1 dependent but please god we will have two ?


  • #3
    sonnybill
    Registered Users, Registered Users 2 Posts: 973 ✭✭✭sonnybill


    Trish56 wrote: »
    Lenders now do a Covid Risk Assessment just before drawdown and you need to show evidence of income as in a recent payslip (within 1 month) and provide 3 months recent current account statements.

    Will your wife be getting paid when on maternity leave if so she just submits her payslip together with a letter from her employer stating the date she is due to return from Maternity leave. If not getting paid you also need to submit letter from employer. If you have baby before drawdown then your net disposable income will change so a married couple need to have €2550 left over per month after stressed mortgage repayments and any other deductions.
    If you're with a broker, contact the broker who will do the calculations for you.

    Thank you Trish, we didn’t up until this point say anythingbas question did state current dependents which was 1?


  • #4
    Trish56
    Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭Trish56


    That's ok as when you applied you only had 1 dependent and you're not asked on the application form re maternity leave. It will now crop up when you have to send in recent payslips and bank statements and will probably need to get a letter from employer stating expected date return to work.

    sonnybill wrote: »
    Thank you Trish, we didn’t up until this point say anythingbas question did state current dependents which was 1?


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