Maternity Leave!

How does your situation affect your ability to get a home loan?

It’s no secret that the cost of living in Australia is expensive, and because of this most households will actually rely on having dual incomes.

Maternity leave means that the family is growing; thus quite often, you might be finding yourself in a position that necessitates a move to a larger or different family home to accommodate your changes in life.

In years gone by, lender’s weren’t entirely equipped to deal with this type of scenario. But times have moved on thankfully, and there are a number of flexible lenders that will allow borrowing to occur whilst you are off work temporarily.

The Key factors that a lender will consider;
1. Return to work Date
2. Return to work remuneration
3. Return to work position
*The Lender requires a letter from your employer confirming all of the above

During the period of leave, the lender will want to see that you have a large enough savings buffer to cover any shortfall during this time. As far as timeline goes, it’s not uncommon to see lenders accepting of 6 to 12 month maternity leave periods.

Given that this type of lending scenario is always going to be so unique to each individual person; the best thing you can do is reach out to me directly so that we can discuss your particular situation in detail, to determine if this strategy is either feasible, or even appropriate for you.

If you have any further questions on Maternity Leave in the context of home lending, please feel free to reach out directly to me!

Keegan Rezek
0451 668 673
[email protected]


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