Moving house to reduce my mortgage...

familypuckett

I'm really just using the forum to sound off so I do apologise! Having gone through a divorce and managed to buy my ex-husband out I decided the time was right to down size and move myself and my two little boys to a cheaper house and thus reduce my mortgage. To my absolute amazement Barclays/Woolwich have declined to let me have a new, lower mortgage as they have changed their policies and no longer allow child tax credit and working tax credit to be included in my income. So basically they are happy for me to stay in a house that I can no longer afford. I do feel this is discrimanatory as I choose to go out to work, albeit part-time due to exhorbitant child care costs, but I really feel I am stuck between a rock and a hard place. Any helpful advice gratefully received.

slopemaster

Talk to a [n independent whole of market] mortgage broker?
(Who should be able to find another lender with different policies)

dimbo61

The whole mortgage market has changed in the last 2/3 years and you may struggle to get the home you want.
Now selling and buying is expensive so if you are happy with your current property is there any way you can afford to stay ?

Thrugelmir

If you were to post some financial information. Then would be easier for the forum regulars to comment.