Getting 2nd Mortgage due to Seperation?

Thmas_Covenant

I have a current joint mortgage with my wife. We have over £100k outstanding, but a fair bit of equity.
We are separating, and as we have young children and don't want to disrupt them, they will stay in the family home with my wife and I will look to find somewhere locally so we can share care. I will continue to help with the mortgage.
Neither of us can afford to buy out the other, and as we have a lot of equity I don't want to come off the mortgage and lose my equity, so will wait until circumstances change or youngest child reaches 18.
So I appear to be limited in my ability to get a mortgage for a new place as the entire amount of the current mortgage will go against me, leaving me only a small amount if I look at the standard 4 x salary.
I wondered if there are any novel options open to me?
I have looked at a shared ownership property, which may suit, but would need to access a mortgage that allowed me to stretch to 5 times salary.
Also, I have considered getting a buy to let mortgage, but letting it to myself (I know its not strictly honest, but i'm trying to work it out). Also wondered about getting a buy to let on the shared ownership, which would work well financially but I have been advised that I can't use a buy to let on a shared ownership - any way around this?
Thanks

kingstreet

The Government's shared ownership calculator caps out at 4.5 X income, so getting 5x from a lender isn't going to help. Even if you could, the rent & service charges would reduce what you could borrow anyway.

You will also not get a BTL mortgage on shared ownership as a lender can see from the legal docs what you are buying and the lease will specifically prohibit sub-letting as well.

Thmas_Covenant

Thanks kingstreet.
Not good news, but good to know.
So I'm struggling to see an alternative to renting. I want to do the right thing by the kids, so will take that financial pain, but need to be close to them and renting wise this is expensive.
Any ideas welcomed