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Relationship over - Ex wants to buy me out
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Depending on where your ex gets his money from to pay you out you might not have to incure the early re-payment charge.
When I was in this situation the mortgage company where happy to remove my name from the mortgage for an admin fee, ex stayed on the same product for the same house.
However if your ex needs to remortgae to buy you out then you would incure the charge.Debt free since July 2013! Woo hoo! The bank actually laughed when I said I have come in to cancel my overdraft.0 -
hellokitty08 wrote: »Depending on where your ex gets his money from to pay you out you might not have to incure the early re-payment charge.
When I was in this situation the mortgage company where happy to remove my name from the mortgage for an admin fee, ex stayed on the same product for the same house.
However if your ex needs to remortgae to buy you out then you would incure the charge.
Thanks, it seems his plan is to move lenders.
Thank you to all for your advice, it does help to get an objective view of the situation as he is quite a bully so I never feel confident believing anything he says, though he would convince you black was white. On the surface it seems like this wouldn't be a bad solution to put the whole sorry episode behind me but I just need to be sure of where I stand is all. Especially with the timings as it will take a while to find somewhere else to live and to pack up and move. At least there is some equity in the house so I'm better off than some of those whose stories are on here and there are no kids involved. The battle for the furniture and contents will be the next thing!!
NEVER EVER buy a house with someone without figuring out what will happen if you go your separate ways is my advice to anyone thinking of doing the same. It might not be romantic but it will save a lot of pain in the long run should things go wrong.0 -
Remember with falling prices the offer my be less again in a few months as prices fall.It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0
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