Applying for new mortgage without partner's income

[John2424]

Hello,

I currently own a property & am now looking to move. I have a joint mortgage with my wife who is currently on maternity leave. She is due to return to work officially in January 2020 but is not intending on going back. My question is - if we were to buy a property before then (in the next 6 months),would the bank/lender simply assume my wife will be back in full time employment & therefore any new mortgage we are offered will still be based on our joint income when she was receiving a full salary and not on her maternity pay?

Many Thanks

 

[diyhelp]

I think your partners share of income would be based on her reduced (?) income just now - be prepared, they will ask questions about your partner's intentions after maternity leave is over.

 

[Longterminvestor]

I would check but I think the answer by @diyhelp is they way I assume that it works. They will ask questions - mortgage lenders are no fools

 

[FWL]

The main problem here is that while not necessarily telling a lie, if you’re not fully truthful then they will no doubt be some small print to catch you out further down the line. Be very careful!

 

[Peter123]

You must provide proof of your own income, credit, and assets Even if your wife earns more money than you do, you may still be able to qualify on your own if your income meets the lender's minimum standards.

 

[realdeals]

I would be very careful applying under potentially misleading joint income. Be upfront and honest and you never know, they may be a little more accommodating than you expect.

 

[Longterminvestor]

If you were ever found to have applied for a mortgage with misleading information, what do you think the chances of you receiving any mortgage funding (or any type of credit) in the future?