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taking a mortgage break
rachaelsimblet
Posts: 3 Newbie
Hello,
I am in the process of my ex buying me out of our property which is currently on hold.
He has asked me if I am willing to take a mortgage break. We are both still in full time secure employment, so do not really need to take this, would it be granted in the current climate and if we took the mortgage break would it affect my chances of getting a new mortgage in the coming months. I do not have a new lender yet to ask this question.
Additionally, he has offered me £250 p/m if I agree to the mortgage break (our mortgage is about £930p/m - £230,000 mortgage at 2.2% approx) he would be taking on the additional interest but making the additional saving in the short-term. Is this a fair deal if I agree? Unfortunately it has taken over 8 months to complete the transfer of deeds so I am really struggling with money right now.
Thanks
I am in the process of my ex buying me out of our property which is currently on hold.
He has asked me if I am willing to take a mortgage break. We are both still in full time secure employment, so do not really need to take this, would it be granted in the current climate and if we took the mortgage break would it affect my chances of getting a new mortgage in the coming months. I do not have a new lender yet to ask this question.
Additionally, he has offered me £250 p/m if I agree to the mortgage break (our mortgage is about £930p/m - £230,000 mortgage at 2.2% approx) he would be taking on the additional interest but making the additional saving in the short-term. Is this a fair deal if I agree? Unfortunately it has taken over 8 months to complete the transfer of deeds so I am really struggling with money right now.
Thanks
1
Comments
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Must be a reason to offer you £250 rather than continue to pay 50% of the mortgage. Adding further interest to the mortgage debt makes little sense.0
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