Remortgage to buy partner out due to seperation

Monkeydave

Ok so I'll keep it as brief as I can but will kick off with yes I'm an idiot for my recent mortgage application and for the payment holiday knowing that my relationship wasn't great

We owe 170,000 with Halifax on a 5 year fix so there are ERC.
We took an extra £12,000 on this mortgage to clear debts (170 includes this amount)
House valued for that application between £220-£240k
The mortgage started in April but we took the payment holiday on offer because of COVID so it's very recent

So my partner can't afford the house on her own, I could, I got the mortgage just off my salary as she wasn't working. I'd like to keep the house because firstly the ERC is a kick while we're down but I appreciate you make your own bed and I was silly to fix for that length (although caveat is if i'd have gone 3 year instead it's 'only' £3,400 more than we'd pay anyway if we sold up so ah well not the end of the world)

I have a mortgage advisor I can speak to at some point, but we're holding off any official conversations until after this weekend (family thing planned and we don't want to ruin with our news). 
What I want to know is:
A) given how recently we've remortgaged am I going to have no chance of any help to raise more funds through Halifax
Even if Halifax will entertain it, will they allow me to transfer a product if it's raising extra capital? Staying with them in the hope of avoiding that ERC
C) any other options I should consider for how to buy my partner out - second mortgage for example

I have £6,000 in savings and can probably get another £3,500 from an investment. Based on a range of house valuations I forecast:
220k - £25,000 buyout (89% LTV if able to remortgage or 86% if remortgage and use £6,000 I have in savings)
240k - £35,000 buyout (86% LTS if able to remortgage or 83% if remortgage and use £6,000 I have in savings)

We're on good terms and she will live me until she finds somewhere to move into but I just ideally want to get the ball rolling on the buyout, or know how long I might need to wait.

I really don't want to have to sell

Monkeydave

Hi, anyone able to offer any advice on this? I'm really unsure where I stand, just waiting for a conversation with my mortgage adviser at the moment but I'm not sure I can avoid the ERC while trying to raise more money for the buyout but really would appreciate some different views on this

Thanks

cooltt

Monkeydave said:

Hi, anyone able to offer any advice on this? I'm really unsure where I stand, just waiting for a conversation with my mortgage adviser at the moment but I'm not sure I can avoid the ERC while trying to raise more money for the buyout but really would appreciate some different views on this

Thanks

Hi there, forget about all the figures your throwing about, in this situation your looking at a remortgage in your own name, it's that simple. 

Halifax will simply look at your affordability for everything you want to do, how soon you remortgaged is not relevant. ERC is normally waived if you remortgage with Halifax, confirm this with MA.

Monkeydave

Thanks Cooltt, I've got a call this afternoon with my MA but just wanted to get another view beforehand