Yes, you can get a maternity leave home loan. You can borrow up to 80% of the property value that you intend to purchase.
Most lenders will request that you supply evidence of your employment and income through:
- Payslips (from the last 3 months prior to commencing parental leave), and
- A letter from your employer stating the terms of the parental leave, particularly the return date and the employment tenure upon return (full time, part time or casual).
Moreover, paid maternity leave is viewed more favourably by the banks. The problem most people face is that often you may only be paid half of your normal salary while on leave, and so most lenders will not assess your loan based on your normal salary.
Even though various lenders have different but firm rules, we know lenders who will be willing to help you out.
Call us on 1300 889 743 or fill our free assessment form to know how.
Cheers,