This is certainly a tricky situation!
brokerman and others have made good points. At the end of the day it is the bank's right and due diligence process to check bank statements for information on how money is managed and look for any undisclosed payments or financial obligations.
Whilst the borrower might think they have things 'covered' around income during pregnancy/early childhood/new baby, the banks have their own criteria on this (its their money after all). If you were lending someone 100's of thousands of dollars of your own money, would you want them to tell you they may be down to one income for a while as part of assessing the risk?
What the problem here is the bank has just straight out declined without discussion. They should really be coming back and probing further around when you plan to return to work etc. Often they need confirmation in writing (from the employer) of exactly when you are returning and then what childcare costs need to be factored in (if any). Even then they can still defer an approval till you physically return to work in some cases. It's quite possible the bank just got cheesed off with the non disclosure of pregnancy and outright declined.
I can see both sides of the story but I think to be fair on the bank, having a new baby and going down to one income for a while is a major factor in their risk assessment and perhaps clarification of timings of returning to work etc advised upfront in the process may have meant a better outcome.
brokerman and others have made good points. At the end of the day it is the bank's right and due diligence process to check bank statements for information on how money is managed and look for any undisclosed payments or financial obligations.
Whilst the borrower might think they have things 'covered' around income during pregnancy/early childhood/new baby, the banks have their own criteria on this (its their money after all). If you were lending someone 100's of thousands of dollars of your own money, would you want them to tell you they may be down to one income for a while as part of assessing the risk?
What the problem here is the bank has just straight out declined without discussion. They should really be coming back and probing further around when you plan to return to work etc. Often they need confirmation in writing (from the employer) of exactly when you are returning and then what childcare costs need to be factored in (if any). Even then they can still defer an approval till you physically return to work in some cases. It's quite possible the bank just got cheesed off with the non disclosure of pregnancy and outright declined.
I can see both sides of the story but I think to be fair on the bank, having a new baby and going down to one income for a while is a major factor in their risk assessment and perhaps clarification of timings of returning to work etc advised upfront in the process may have meant a better outcome.
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