We have been enjoying the low base rate since October 2008. Now we wish to fix our rate for 2-3 years as we are fearfull of the rising interest rate. Normally this would'nt pose us any concerns as we currently have approx 50% equity and are only looking to re-mortgage circa £80k over a 14yr term. However the situation is complicated by :-

1) My wife is now a full time stay at home mum so one less income

2) I have had to accept a 38% drop in salary in order to keep my job

2) I have been at notice of redundancy since November 2008

Based on my current reduced income, we can still comfortably afford the monthly payments. My concern is that lenders will reject us based on the above.

Any advice welcome ? Any similar situations experienced by others and options open to us would be appretiated.

Thanks.

Who is your lender??? If they have some rates available you can just do a product transfer with no questions asked. Most lenders nowadays use affordability calculators, you can find them on their individual sites so play around to see how you stand.

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Regards

Ian