Does pregnancy affect mortgage? - Getting A Mortgage When Pregnant

Having a child is one of the biggest events many of us will undertake in our life, and a new baby will result in a number of life changes to consider, this include your living situation, you may need to remortgage to carry out an extension making room for your new baby or maybe you are considering moving to a larger property, in either case pregnancy may affect your mortgage and remortgage options.

An important part of any mortgage application is a check to ensure your mortgage is affordable, the lender will look at your outgoings this will include the extra costs of an extra dependant in the household. A new baby will decrease your disposable income with the added costs of food, baby clothes, nappies and child care going forward.

Another important factor is your income, in many cases both parents will return to work after their maternity leave but in some cases the mother or the father may decide to decrease there hours to spend more time with the baby / child, this will often result in a decrease of income which may also have an impact on the affordability of a new mortgage or remortgage, the good news is often you could end up paying less in child care saving you money, so this will vary depending on your circumstances.

When you have a child you could end up with big changes in your taxes paid, as well as added benefits, these benefits can be used in your mortgage application making any application more affordable. Here at First Choice Finance we take every enquiry at their own merit, we can give you qualified advice on what mortgage best suits your circumstances.

We have knowledgeable and professional mortgage advisers committed to offering the best mortgage rates for your circumstances and excellent customer service.

You can trust First Choice Finance to provide you with low rates and fees through knowledge and technology. By combining the use of the Internet along with advanced processing software and experienced mortgage advisers we are experts in helping people arrange mortgages and remortgages.

First Choice Finance have a strong and genuine belief in the "customer for life" principle of doing business is what fuels this company. Referrals from previous customers have always delivered a large percentage of our mortgages arranged, with over 30 years arranging mortgages, remortgages and homeowner loans, complete our simple online enquiry form to begin search for a new mortgage.

Mortgages & Remortgages 8.4% APRC. Representative Example: Borrow £120,000 over 25 years at 5.99%, £778.86 pcm fixed for 3 years at 60% LTV. Then at 8.75%, £974.86 pcm, variable for 22 years. Total payable £286,416. Total cost of credit £166,416 (including: £985 broker fee, £999 lender fee & £164,432 interest)

Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

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