Remortgage mid fixed rate term?

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I’m moving in with my DP and have sold my house. He has 4 years remaining on a 5 year fixed rate for an £85k mortgage. His interest rate feels pretty high at 3.74% compared to mine on the house I’ve sold which was 1.51%. I know interest rates have gone up now.

Initial plan was for me to stick my lump sum from the sale of my house in to a fixed rate savings account for future home with DP.

It has now crossed my mind whether it would be financially sensible to remortgage his house, in both names, and use my lump sum towards it? (Would of course make sure if anything goes wrong I get my full share back and he gets his full share back). By doing this the mortgage payment would come
down from £394 per month to £161 per month (based on a 3.15% 3 year fixed rate). We would need to pay a 2% penalty for ending fixed rate early. We only plan on staying in his house for 3 years or so.

Any advice would be much appreciated

Keep your ££separate
Wait til you tried living together
Dont entwine your mkney if its to move in 3 years
Ard you plannkng kids, marriage?

We have been together a long time and yes, wedding is booked for next spring. Have been sensible in terms of keeping what’s mine mine and what’s his his thus far.

When this option dawned on me I thought surely it’s better to pay £200 less on the mortgage each month. I suppose I need to weigh up how much interest I’ll make on my savings Vs how much we’d save in the monthly mortgage payment

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