renewal/ change of circumstances

oscarhens

Since we took out our mortgage our income has fallen dramatically due to me going part time following maternity leave and my partner's self employed business suffering in the recession. Our fixed rate is due to end in June. On our current income surely no lender would offer us the £95000 we need to change lenders..? Are we therefore stuck into our current deal or is there anything else we can do to try to reuce our payments?

_Andy_

If you are staying with your current lender then your income isn't relevant, you would need to contact them to see what rates they have available. That said, you may find the SVR you fall on to is very low anyway.
You don't state what your income actually is so we've no way of ascertaining if £95,000 is achievable via another lender.

MB1919

As Andy says, we need more information. However, one thing that could be possible is to extend your mortgage term in order to reduce your monthly payments. Presumably, your husband and yourself are still quite young so it should be possible.

Radiantsoul

Standard Variable Rates are pretty decent at the moment, so it might not be so bad.