Separation - how can I make the money add up? Mortgage, equity etc.

[RoadToNowhere]

We can't go on.
But the thing I keep turning over in my head (apart from our child) is how we could sort the money.
We own the house as tennants in common. We have a covenant on it, saying roughly 60% is mine and 40% is his.
I can now pay off my share of the remaining mortgage. But with the rise of house prices since I bought my first flat that gave me my equity, I cannot afford to buy DP out of our current house, at current market value. He earns less than me and couldn't buy me out, either.
I don't want to leave, and I don't want to uproot DC from home.
If we sell and split, I don't think I could get anywhere big enough for me and DC - smaller places are not cheaper pro rata to bigger places, iyswim.
What would my options be?
I'm not young - I couldn't get more than a 10 or 15 year mortgage, I think. And don't know that I could pay a mortgage plus running costs and household expenses as a single parent - we have been very tight as it is - the forthcoming ending of £1000 pcm mortgage payment (between us) was looking like a blessed relief on the horizon, so I would have that leeway.

I know it must be possible - so many separating couples and single parents manage, I just don't know how.

It's a horrible situation to be in. The best thing I can suggest is to speak to your bank in the first instance to look a bit more in depth at your options. They will look at factors like your age, how much the property is worth etc and see if a mortgage would be an option and price it up for you, even if you eventually don't go with them for a mortgage.

Would you qualify for any benefits? The turn2us calculator is fantastic, you can try various scenarios to see how you would be best off financially.

Would your DP consider an agreement where you keep the house until youngest DC turns 18 and you buy him out or sell then to give him his share?

There's always options available, hopefully you will be able to find a solution that is affordable for you.

Thanks, RockChick, that's really helpful.
I should see a bank / mortgage company, and also a solicitor re a possible postponing of buying dp out once DC is older. In marriage that is called a mesher order, I think? I don't think dp would want to see DS moved out of his home.
I should get hard professional advice and the numbers and facts and that will stop my endless speculation on the matter.

I don't think I would get benefits, but I'll check that calculator - thank you.

Definitely talk to a solicitor. There has to be a balance between not disturbing children and both parents being able to afford to live. There will be sacrifices if the status quo is simply too expensive to maintain. It could be that you sell up and use your capital, not to buy another house, but to rent one instead. If you bought a much smaller property - not the end of the world - your husband would be able to pay something in maintenance which would go towards the household bills. If you have more than one DC and your earnings are under £30k you may well qualify for tax credits. Single people also get a discount on their council tax.