A mortgage renewal during maternity leave can be stressful. Your mortgage options may be limited, but it is not impossible to find a mortgage. I heard the panic in my client's voice when she was telling me about her fears qualifying for the renewal. She and her partner were unable to qualify at the bank.
Mortgage lenders are concerned with affordability. She and her partner would need to qualify for the renewal and so that means show income. Showing income means tax returns and current pay stubs. When on maternity leave, the employer does not issue pay stubs, because maternity pay comes from employment insurance. I already had some lenders in mind when I spoke to my client. I was able to alleviate her fear when I told her that she will be able to qualify for a mortgage with some additional documentation. The additional documentation is to get a letter from her employer stating when she would be returning to work. As long as she was returning to work within 12 months, I had a lender who would use 100% of the maternity leave pay. If she was returning after 12 months then I had lender who would use 60% of her pay. Their income was enough to qualify for a mortgage and fear melted into relief.
There is great satisfaction in helping another person to give them a peace of mind and comfort, especially in this case when my client was dealing with a new baby and all the changes which come with this bundle of joy.