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Mortgage Advice Please!
Roma.10
Posts: 11 Forumite
Hi,
Not sure if i have posted in the right place but i would really appreciate some advice please.
I have recently split with my ex and she wants to buy me out of our home. Having made me a fair offer i'm thinking more towards accepting her offer and moving on.
However we are 19 months into a 24 month fixed repayment mortgage with NR and our early repayment fee is around £4,500. Would it be possible to offset this charge if we changed the mortgage solely to her name?
Would this incur a charge?
I understand that Solicitor fees would be involved for this process - how much roughly would these be?
Also would there be any other fees/charges that i may have to pay for?
Thanks in advance.
Not sure if i have posted in the right place but i would really appreciate some advice please.
I have recently split with my ex and she wants to buy me out of our home. Having made me a fair offer i'm thinking more towards accepting her offer and moving on.
However we are 19 months into a 24 month fixed repayment mortgage with NR and our early repayment fee is around £4,500. Would it be possible to offset this charge if we changed the mortgage solely to her name?
Would this incur a charge?
I understand that Solicitor fees would be involved for this process - how much roughly would these be?
Also would there be any other fees/charges that i may have to pay for?
Thanks in advance.
0
Comments
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Assuming you keep with the same lender then there should be no penalty, you are simply removing one party.
As regards costs you should only be looking at a couple of hundred, but a word of warning - agree your terms with each other beforehand, keep it amicable and get on with it, and disputes fought out through solicitors will cost you dearly !I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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