NAT for LAN PCs with Failover

I am working on a failover configuration. Usually I do

/ip firewall nat
  add chain=srcnat out-interface=ether1 action=masquerade

to NAT the PCs out to the internet. This forces everything out ether1 though.

I have found that this works with failover:

/ip firewall nat
  add chain=srcnat action=masquerade

Is this correct?

No.
If you have two wan interfaces the answer for sourcenat is detail each separately.
OR
If you ahve added both to the wan interface list then use the interface list WAN.