Getting A Job When Pregnant?
Discussion
Big Tav said:
I am probably going to borrow around £120-150ish I think.
IMHO, you will struggle mightily to get a joint mortgage based on jobs taken within the last 12 months (as it sounded like from your OP that you both have no employment at present). If you have a clear UK credit history for the last 3+ years, on a sole income based on affordability, you would need something approaching £1800 income a month. This is from what I have been advised looking for a new home for myself, with a pristine credit history and wanting to borrow £160k.Any mortgage you do get will have a whacking great interest rate and unfriendly terms during the fixed period (if that option is taken).
The main reason why I want the joint income is that it possible opens us up to better quality deals if our income is higher and also say I go back into sales for the first 3 months my income would be lower until good commissions start coming through. I have also been told that banks only take into consideration your base salary and on 60% of comms as you borrowing capacity even if you are clearly making more.
I will also have at least £30k in the bank (after I have the loan in place) so I can afford a £800 per month mortgage pretty easy. Still have to qualify though
I will also have at least £30k in the bank (after I have the loan in place) so I can afford a £800 per month mortgage pretty easy. Still have to qualify though
Big Tav said:
The main reason why I want the joint income is that it possible opens us up to better quality deals if our income is higher and also say I go back into sales for the first 3 months my income would be lower until good commissions start coming through. I have also been told that banks only take into consideration your base salary and on 60% of comms as you borrowing capacity even if you are clearly making more.
I will also have at least £30k in the bank (after I have the loan in place) so I can afford a £800 per month mortgage pretty easy. Still have to qualify though
To artificially boost your income on a mortgage application is fraud. As you would be aware of a pending change in circumstance, to not disclose this would be fraudulent and viewed exactly the same way as if you said you earned £100k and actually earned £10k.I will also have at least £30k in the bank (after I have the loan in place) so I can afford a £800 per month mortgage pretty easy. Still have to qualify though
Consider the negatives of this, as legislation changes due imminently will give powers for civil and criminal proceedings to be commenced when this is discovered.
It's not fraud. I would be stating exactly what we are earning. Not fudging the books or making up I make more than I do. Sales income increase after a few months. My wife will be working too. What is rubbish is that I can make £30,000 a year in comms (above base) and the bank would only consider that to be £18,000? Total crap.
To say using my wife's income on the app when I know she is pregnant is not fraud either even if I know she will leave. What is to stop you leaving your job (or getting fired) tomorrow? Nothing.
To say using my wife's income on the app when I know she is pregnant is not fraud either even if I know she will leave. What is to stop you leaving your job (or getting fired) tomorrow? Nothing.
Big Tav said:
It's not fraud. I would be stating exactly what we are earning. Not fudging the books or making up I make more than I do. Sales income increase after a few months. My wife will be working too. What is rubbish is that I can make £30,000 a year in comms (above base) and the bank would only consider that to be £18,000? Total crap.
To say using my wife's income on the app when I know she is pregnant is not fraud either even if I know she will leave. What is to stop you leaving your job (or getting fired) tomorrow? Nothing.
Basic salary is used to calculate affordability because it is guaranteed income. Otherwise, everyone could say they earn 3x basic as comms.To say using my wife's income on the app when I know she is pregnant is not fraud either even if I know she will leave. What is to stop you leaving your job (or getting fired) tomorrow? Nothing.
As for not fraud; to apply using the income of someone who is, unquestionably, going to have a period of no income, is fraud. 100%, no ifs, buts or maybes. To compare with leaving or being fired is naive. It has nothing to do with how the period of no income occurs, and everything to do with that it IS going to occur.
It is also rubbish to think that I have enough in reserve to pay the mortgage even if I do nothing for 3 years but that isn't taken into account either. That is guaranteed. Also what if I wanted to pay my loan off with that money and quit my job as soon as I got the loan and went traveling? No law against that. All that matters is if I can service the loan or not.
As for comms from car sales. It should be taken a lot higher than 60% too I believe. If you arent making target and reaching the required income from the job you will be fired in 3 month anyway.
As for comms from car sales. It should be taken a lot higher than 60% too I believe. If you arent making target and reaching the required income from the job you will be fired in 3 month anyway.
Big Tav said:
It is also rubbish to think that I have enough in reserve to pay the mortgage even if I do nothing for 3 years but that isn't taken into account either. That is guaranteed. Also what if I wanted to pay my loan off with that money and quit my job as soon as I got the loan and went traveling? No law against that. All that matters is if I can service the loan or not.
As for comms from car sales. It should be taken a lot higher than 60% too I believe. If you arent making target and reaching the required income from the job you will be fired in 3 month anyway.
All in an ideal world.As for comms from car sales. It should be taken a lot higher than 60% too I believe. If you arent making target and reaching the required income from the job you will be fired in 3 month anyway.
We do not live in an ideal world.
NiceCupOfTea said:
Most people don't even tell friends/family until 3 months in, so why would you tell an employer, especially as many pregnancies end in miscarriage in the first few weeks (sorry OP)? 6 weeks is barely a missed period and no business of an employer.
OPs OH is looking for a job, not in a job. Whilst law dictates that employers cannot ask at interview and prospective employees do not have to disclose, does not mean that from a moral perspective it is right to withhold it.Big Tav said:
I know what you're saying. Anything could happen yet. She is only 6 weeks pregnant at the most. So many things can happen and change between now and December.
I think a lot of us are forgetting that this is a bit more to both of you than just your OH getting a job and getting the bills paid.Belated congratulations and I hope it works out in all ways.
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