Buying ex out - secured loan. Has anyone done this?

[Fantasisa]

I can't afford to buy 'D'H out and take on the mortgage and he won't leave unless he gets his equity. I could possibly take on the mortgage if I can prove to the bank that I can make the repayments without his assistance but they won't let me remortgage to buy him out..

My latest idea to raise the equity is to show the bank I can make the payments (I can), take on the mortgage and then get out a secured loan on the house to pay him the equity. It would be tight financially but I can't see how else I can do it.

Has anyone else done this? I know it should be a last resort, and it is, but if it sorted the finances I'd be prepared to do it.

Im hoping to do exactly the same so would be good to know if its worked for anyone else x

You won’t be able to get a secure loan against the house unless your ex agrees.

If he your husband? Do you have children together?

The aim would be to show the bank I could afford the mortgage repayments by myself (I can but they won't approve me without 3-4 months apparently), take ownership of the house and then take out a secured loan on the property to pay DH back. Obviously he would have to trust that I would do this.

We are married and we do have DC together. We about the same and will share the DC 50/50 so it isn't the case that one of us has more right to be in the house than the other.

We earn about the same it is meant to say

A charge on the mortgage would be better for me as I wouldn't have to pay it now. But he will need his equity to be able to start his new life.

It would be an £80k loan so not insubstantial.

I'm wondering exactly the same. Ex wants £30k so planning on doing a £15k loan now and then hopefully he can wait a few more years for the rest.
@unluckyducky that sounds interesting so I could go ahead and apply for him to be taken off my mortgage and he would then agree about when he will get his equity? Is this done through the mortgage lender?