In continuum thermodynamics, models of two-phase mixtures typically obey the condition of pressure equilibrium across interfaces between the phases. We propose a new non-equilibrium model beyond that condition, allowing for microinertia of the interfaces, surface tension, and different phase pressures. The model is formulated within the framework of Symmetric Hyperbolic Thermodynamically Compatible equations, and it possesses variational and Hamiltonian formulations. Finally, via formal asymptotic analysis, we show how the pressure equilibrium is restored when fast degrees of freedom relax to their equilibrium values.