Family home question-Mortgage prisoner!

[ShimmyAndShine]

I am paying the mortgage on the FMH myself after STBXH moved out. However, we are nowhere near court date and it has gone onto the SVR. I can just about afford the repayments but it's going to use all my savings.

Q. Can I sign up to another mortgage deal for two years even though we are (hopefully) divorcing this year? I cannot take a mortgage out in my own name but believe it is fairly easy to change to another product with the same lender. Do I need his permission for this?

I am hoping to get a Mesher order so I can stay in FMH with the children as I can afford all the outgoings. However, if the court ordered a sale their would be a big early repayment charge to get out of the mortgage.

What should I do?

(Also posted in legal but hoping I get more responses here from people who have been in same situation)

If the mortgage is in both names you will need him to sign. It's unlikely a bank sound give you a mortgage in just your name when you both own the house.

Buying him out now would have its advantages, as the early repayment charge would increase the amount to be deducted from the sale, thus reducing the equity. And there would be a better argument for receiving more than 50% of the equity assuming his earning capacity is greater than yours and if you were to offset pensions etc.
A Mesher in a few years time would be 50/50. No early repayment charge means a smaller mortgage and more equity.

Yes he will need to co sign any remortgage - he will be notified directly of any proposed change and a copy of the agreement would go to him to sign - you wouldn't be able to proceed without it

Mesher orders are very rare so don't bank on getting one

Was wondering whether a simple product transfer with the same lender would avoid all the rigmarole of trying to get him to sign. I can't buy him out now as although I can afford the mortgage I haven't got the right income multiple to be accepted. I have a daughter with a disability who would be disrupted if we moved so I'm hoping for a short term mesher order as I can potentially take the mortgage over within 5-6 years

I did a product transfer with the same lender on our joint mortgage last month and both DH and I had to sign

The Mesher will really depend on his circumstances - if he needs the equity in the house to be able to fund a home of equal status then unlikely you'd be granted it?