Re-Mortgage/Equity Release - What Options do I have for buying out DH?

[Raining12345]

As above..... we're both under 50, mortgage free and in the process of splitting up. Currently it's amicable and we want to keep it that way. Ideally I'll stay in the house with the kids and he'll buy elsewhere locally. What are our options for releasing his share of the money? Obviously I'd have to pay it back if I'm buying him out and I appreciate the intricacies of working out who is entitled to what, but if I wanted to give him half of the value of the property what is/are my best option(s)?

You’re too young for ER, you need to see an independent mortgage adviser.

You wouldn't get equity release at your age. So you either have to re-mortgage or sell up and use your half of the funds to purchase another property (hopefully cheaper) with a mortgage.

You do need professional advice.

Have you got the value of the property?
Do you have the value of your total marital assets?
Have you agreed how much you will each keep? And through which assets?
In other words, do you know how much you would need to borrow to buy him out?
If you know the amount of loan you need, start by going onto the website of any major lender and seeing if you can borrow that amount and what the repayments would be. Can you afford them?

Exactly this. Go on Zoopla and get a rough valuation of your property. You say you are mortgage free so you get enough information to be able to work out what you could walk away with if you sold or how much you would need to borrow to pay your H off.