Mortgage and Separation

Finchy2018

My husband has recently left me and i just want to make sure I'm doing the best thing with my mortgage.

We are in a fixed term until next year. Normally I make over payments of £200 a month, however, I'm going to need to increase my borrowing to take on the mortgage in my name only. I think I'm correct in that I should really spend the next year saving as much as possible and not over paying - therefore limiting the amount I would have to buy him out of. Then use my savings to get the mortgage solely in my name?

A_Frayed_Knot

Depends on how much you agree to buy him out. No point in overpaying yourself if he may get half of your overpayment benefit without him overpaying.

If you get the benefit yourself then I think it's 6 and half a dozen, you would be paying less interest because of your overpayments each month.

Then again, who is paying the mortgage for the next year? you yourself, of so, you may not be able to
pay all yourself and overpay/save.

Finchy2018

I suspect he will want 50% of the equity - even though I paid deposit and have paid the mortgage 100% which is why I don't want to give him an extra, if I save I can just pay a bigger lump sum into the remortgage in the hope of getting a better rate then?

I suppose I need to speak to him at some point...