mortgage redemption fee/ house sale question

downs523

hi, me and my ex have split up and are near completion in the sale of the house we jointly own.

we are splitting the money we make from the house sale 50/50.

i am carrying on the mortgage to buy a flat in my name only. because we have only had the mortgage for a year the early redemption fee is about 6,ooo pounds, this can be reimbursed to me if i port the mortgage within 6 months. question is do i have to split this redemption figure with my ex partner, i dont think i have to as its me thats porting the mortgage in my sole name and if this was not done it wouldnt get refunded in the first place.

anyone have any experience or answer for me, many thanks, chris.

JQ.

I wouldn't consider what you are doing is fair and if I was your other half I would want my £3,000 back.

Ulfar

The redemption fee has to be paid up front I take it, is your ex going to pay her half.

Is the amount to be split before the redemption fee is taken out or after.

For it to be fair her share should be before.

G_M

So you make your partner pay £3K, knowing that you will get that £3K back (as well as your own £3K) within 6 months?

And you even need to ask if this is fair!!!!

You are well aware you are cheating your partner, but because you are unhappy/angry/resentful/miserable/whatever due to the breakup, you are trying to justify your disception/financial manipulation.

downs523

no, when we bought the house i paid alot more than her but i am still giving her 50% of the return. she does not want to carry on this mortgage, i do, so dont see why she should get half of the redemption when im taking the new mortgage out. the redemption comes out before we get our return from the house

G_M

Well, that's the difficulty of asking for/giving advice in forums like this. Sketchy background information. All you originally said was:
"we are splitting the money we make from the house sale 50/50."

Now you introduce unequal input into the house. And I'm sure there is lots more we don't know, both financially AND in terms of how you've discussed this together and what you've agreed. EG - has the difference in input been recognised/discussed?

I'm refraining from further comment.