Moving on - what prospect of a new mortgage ?

Hi,

I apologise if this is a dumb question, we are now separating and I am looking into my options for the future.

Background both earn about the same, have a mortgage with more than 50% equity (£2-300k equity)

Children are both over 16 but in full time education

Plan was originally to stick it out until both children were away at uni before selling up.

However, STBX is making life intolerable and I would like to just take out another mortgage and move on.

So here is the question - can I use part of my share of the equity as security on a loan 8 - 10 months before the house gets sold ?

And if so what do I need to get agreed to make it happen and who is receptive to this type of arrangement ?

Plane_Zach

OK so I have got an answer from a financial associate.

I would need to be able to cover the whole of the existing mortgage plus any new mortgage - the amount of equity and my STBX's ability to pay would not be considered.

SO it looks like I have to sit tight and endure another six months or go out and rent a box in some cupboard.

Here I thought we were very financially stable and could do this without acrimony - obviously wrong

You live and learn