Re-mortgaging with only one salary?

[Kerelene]

Hope this is the right place to post this

I am soon to be made redundant and am expecting my 2nd baby in November. Will probably claim benefits until then as have not found any jobs to apply for so far which pay more than benefit (after paying for childcare and travel).

I hope to claim maternity allowance for 9 months after baby's birth and then try and find a new job (which pays enough to cover childcare for 2 kids etc...)

It's just occurred to me that we will need to re-mortgage in May next year. Will we be able to get a mortgage on only my husband's (modest) salary? I am really worried that we might lose our flat which we only bought a year ago, with interest rates going up as well, but I don't want to start looking for work when I've a small baby just so we can get a mortgage...

Any advice/thoughts very welcome

Thanks

Connor I assume (hope) you are bullshitting as usual.
What is the point of you?

WTF is that comment supposed to mean - Don't remember ever saying anything personally offensive to you?

Am genuinely at that comment and would love you to explain it.

Connor that is not the best advice but you are not alone in having lied to get a mortgage and these are going to be the first to fall when the recession really hits.If you need to lie you can't afford it.Why are we hell bent in this country in living beyond our means and then moaning when the s hits the f

Oh I'm really sorry, I confused you with someone else with a very similar name.

Still not a good idea to lie in these circumstances though.

That's a relief DWP!!!

No it is shite advice in the current climate.

what connor suggested is fraud.

There is not a bank or BS anywhere atm that won't check you out thoroughly.Lie to buy loans are dead in teh water and self cert is asking for trouble as aswell as lying you are paying a higher rate so bad all round.

If you can find a lender who will give you a 5 times multiplier you would just be able to do it on your dh's salary (will his salary go up any by nextyear?).

You will have to make serious cut backs though? Do you earn more than him? Is him staying at home and you working an option?

hello

lots of really god advice so far but just a few thoughts.

Would you be willing to work evenings/weekends? Therefore avoiding child care costs. Also think that if your DH is on c 30K thn am sure you would be entitled to some tax credits. there is a web page where you can put in your details and it helps you work out how much you are entitled to (r would be if you are just trying to work things ut on various salaries

The advice people have given about mortgages seems really sound, you may well find that the bank don't ask you much and hence you can get on another fixed rate. Another option I thught of was just being staright with the bank and saying you will be in financial difficulty if they cannot find you another fixed rate deal- obviously this may be risky strategy as that may get put on your credit file but if yu find yur back is against the wall..........

TBH If the idea is already in the back f your mind I wuld be inclined to relocate to a cheaper area, that would take the stress right down.

Good luck