House and breakup

jiffjaff

Hi guys,

Strange situation. Me and my partner have just broken up and our 2 year mortgage deal ends in a months time. We're gonna have to sell the house as neither of us can afford it on our own.

Obviously we're not gonna be able to sell it within a month.

So what do we do when our mortgage term comes to an end? Do we have to get another mortgage whilst we're trying to sell the house? Obviously we don't want another long term mortgage as we'll have to pay a big fee for leaving it early.

I've literally got no idea.

Thanks in advance!

tlc678910

Hi,
When your mortgage deal ends you will usually go onto your banks standard rate. This is usually more expensive than your offer that ended. Give your bank a ring and ask them what you will be paying.

You obviously don't want to pay for a new deal or have a tie in period with early repayment charges so you could choose to stay on the standard rate (and pay a bit more each month). If the advisor suggests another deal it will need to be free of fees and no early repayment charges.

Tlc