Impact of Interest Cover ratio

Tax Planning and Financial

Two of my fixed rate BTL mortgages expire Sept 2024. I've already learnt that due to 125% ICR I will be not be able to borrow the same amount to remortgage them. Since I do not have the spare several tens of thousands £ to make up the shortfalls on both mortgages, I am left with deciding which tenants to make homeless as Ill likely be forced to sell one flat so that I can pay down the mortgage on the other flat.

In addition, I returned to low paid part time work in the NHS ( at the government's behest!) However this additional income will push me into the 40% income tax band. I now understand that this means that my ICR goes up from 125% to £145% making the remortgage shortfall huge. As a result I am very likely to leave my job as it makes no financial sense to be penalised tens of thousands through the increased ICR when I'm paid £11 an hour.

In a nutshell it seems to me that the ICR (plus current interest rates) is going to lead to enforced homelessness and one less worker in the NHS

I'm seeking solutions to this mess!