# Should banks keep rescheduling a mortgage to provide for maternity leave?



## shinners (31 May 2010)

currently attempting to reschedule with AIB as Iam going on maternity leave and husband is unemployed. Two years ago when I went on Maternity leave they gave us 3 mths moratorium and 3 mths interest only no problem, put it in writing and they implemented it immediately (in fact a mth earlier than we had request) without queries or any form filling. Thist ime round requested same and had to fill in a form detailing income and expenditure, came back to us today saying  wil give us 6 mths intertest only and thats all prepared to offer.   Only prob is we really need the 3 mth moratorium. we simply will not be able to pay int only for six mths, my monthly income will drop by more than our mortgage repayment. so even with moratorium & paying interest only for 3 mths it will be tight. have cut all other costs to the bone. am going to attempt to schedule a meeting with them to discuss. once i return to work there will be no prob paying the increased payments.


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## fizzelina (1 Jun 2010)

Banks are not obliged to facilitate moratoriums so people can have maternity leave payment free. Is it not the responsible thing to save enough to cover your mortgage payments for your maternity period? It seems to me like they have been quite cooperative already offering 6mth interest only. Anyway good luck with the meeting.


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## shinners (1 Jun 2010)

Fizzelina, 
I am quite aware that banks are not obliged to facilitate moratoriums so people can have maternity leave payment free. But its a fact of life that females have the babies and unless science does something amazing thats the way it will always be. Since so many men are now unemployed we are now living in a world where more and more couples/families are now depending soley on the income of the female in the family.  So its an issue the banks will be dealing with a lot more in the future than in the past.  So what are working woman, of sole income households, who dont have jobs that pay maternity leave supposed to do? 

Basically we will be *surviving *on social welfare for 6 mths, so even with the offer of 6 mths interest only we will not be able to afford to pay all the interest for the six mths. In reality unless we get a moratorium of some sort we will be in arrrears quite quickly. This is something that could be avoided.

 Yes I do agree that it would be the responsible thing to save enough to cover my mortgage for the period of maternity leave but unfortunately I have not been in a position to save anywhere even close to that amount.  I would love to have a job that paid me sufficiently to enable me to have saved.   

Also am not lucky enough to have an employer whos pays maternity leave (like many public service workers, bank workers etc ...some of whom end up better off whilst on ML than working) so am left with no option but to request a moratorium of some degree. 

anyway its all a bit off topic cos Brendan is looking for peoples experiences with mortgage lenders now to compareto the past.  Simple fact is my experience this time round is completely different to last time, whereas my financial situation is slightly improved and my working situation has not altered.


I spoke to bank today and they said I will have to reapply for a 3 mth moratorium if not happy with 6 mths interest only. but form only gives option of 6 mths interest only & 6 mths moratorium. so will be filling the same form in again, details requested on it are not going to change but more time will pass and I am on a deadline here

Regards

S


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## Towger (1 Jun 2010)

The reality is that 6 months maternity leave only came in a few (about 4) years ago and harsh at it might sound you could be working until the baby arrived and back working a few days later.


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## Pat Bateman (1 Jun 2010)

fizzelina said:


> Banks are not obliged to facilitate moratoriums so people can have maternity leave payment free. Is it not the responsible thing to save enough to cover your mortgage payments for your maternity period? It seems to me like they have been quite cooperative already offering 6mth interest only. Anyway good luck with the meeting.


 
I think your post is ridiculously harsh and ignores the reality of 2010 Ireland.  The economy has collapsed, largely as a result of the reckless behaviour of the banks and their larger customers.  We (i.e. society, Ireland Inc, the taxpayers) are bailing out the banks AND their employees.  They are not standalone entities in ivory towers with any mandate or entitlement to be rude, unhelpful or critical of customers in difficulty.  

Shinners is having a baby - That's how our society is preserved and carried on.  If her partner has lost his job and she's having a baby then the banks are morally obliged to assist her.  She's not looking for the debt to be waived...she merely needs a little rescheduling.  

If the State hadn't stepped in to bail out the banks then the same obtuse individuals Shinners or others are forced to deal with would most likely be on the dole.  They should remember this.  

I'm sick of hearing pious rants from people who claim to have been prudent during the boom.  The vast majority of people were prudent during the boom.  Not everyone who's in difficulty now was buying a Gucci handbag on credit 4 time a year.  Buying what turned out to be an overpriced home for your family isn't reckless or imprudent.

We need to remember we're a society first and an economy second.


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## glynner (1 Jun 2010)

+1 well said Pat


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## fizzelina (1 Jun 2010)

Towger said:


> The reality is that 6 months maternity leave only came in a few (about 4) years ago and harsh at it might sound you could be working until the baby arrived and back working a few days later.


 
So I'm ridiculously harsh for giving an opinion that I thought the bank had been cooperative. I wonder what rant this comment on taking a week's maternity leave will get!! ;-)


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## fobs (1 Jun 2010)

I have decided against having a 3rd child for the same reasons as the previous poster. Fro my last pregnancy I had the benefit of a working husband and the maturity of my SSIA. Now we are on one income (due to husbands health) so could not afford another child and keep up all payments.

When on maternity leave lat time still paid my mortgage but found all utility companies very helpful in putting off payment for last 2 months bills until I had returned to work. I think the bank could help out in this situation as once the woman returns to work she will be back paying again and they will still get the money off her.

I am sure they have rolled up interest and given moratoriums on their larger customers!


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