Worried-Fixed Term Ending-Lower income-HELP!

silvercar

The downside of both of you working part time is the impossibility of either of you getting promoted. I have a few friends who are part time teachers who speak of the frustration of seeing less experienced and less able colleagues promoted ahead of them. With both of you workign part-time your careers will both suffer.

barnaby-bear

MissKay wrote: »

Our fixed term is coming to an end at the beginning of June and we really need to keep our monthly repayments down.

Me and Partner are both going part-time to look after our children so we need to keep the payments down. We've got reliable jobs (teaching) and we'll still be bringing in roughly £36k. Our house is worth about 150,000 and our mortgage is currently 90,000. We also need to borrow about another 10000 to pay off some stupid debts :embarasse

Our monthly payments at the moment are about £450 plus insurances. We're 23 years into a 25 year term.

My partner thinks we're doomed and have no chance of getting a mortgage that's a reasonable monthly payment - say under £750. He thinks we're going to end up having to get part-time jobs etc... He's terrifying me, but he is prone to drama. I'm really worried - this isn't what we planned - but I think we're in a better position than lots of people and we can always extend the term and then remortgage later when we're both back at work full-time. I'm trying to be upbeat infront of my partner but I'm really in the dark - I don't know if I'm just burying my head in the sand???

Has anyone got any perspective they can add to this? Are we doomed? _pale_

BUMP *** in the hope that some monday morning brokers might have some more constructive advice than the post-pub saturday night crowd...:rolleyes: