What's the best way forward. Payment Holiday/Borrow on mortgage?

pennypinching77

My 5 year 5.19% fixed ends Jan 31st 2014. The house is being renovated almost singlehandedly by my Husband to save money and make it more marketable as only bathroom off bedroom puts off buyers. I am on maternity leave so pay has dropped drastically and I'm the main bread winner. I have never missed or been late with payments. All of renovation was done with savings but due to Council regs and silly unforseen problems we have had to spend much more than we planned as is always the way.

My remaining loan is 126k. Similar houses are selling for 230k but we have not had it revalued whilst modernizing it.

We had tenants in but after a long drawn out eviction they eventually left which collided with my maternity leave starting so really bad timing all round. We had planned a 6 month gap between the two.

Wondering the way forward as outgoings will be double any income as of next month.
A very long shot is to take a payment holiday with Halifax but would that need to be paid back before current deal ends or would it just be added at an unfavourable rate if we continued on their standard variable.

Plus what remortgage should I be looking for anyway as we plan to get rid of the house as don't want anything with early repayment charges. Earliest I can go back to work would be Feb once works are completed as Husband would be looking after the children.

Thanks in advance

pennypinching77

Incidently the outgoings will be double because we were renting a small flat whilst we rented our house out and even though we had reserves incase this was still blown went renters did not pay their rent. Besides Morgage and household bills we have no adverse debts or payments.

Thanks