Separation - Mortgage Early Repayment Charges

sarahh-

Afternoon, I'm hoping someone will have some advice or experience to offer on my situation.

I have recently separated from my partner and we are currently selling our jointly owned house. Previous to this I tried to buy him out but he wouldn't accept my offer.

The house is on a 5 year fixed mortgage deal with Halifax until July 2025 so when we sell there is a 5% early repayment charge to be paid.

He has said that Halifax will give him the full early repayment charge back, if he takes another mortgage with them.

Is this something Halifax would do? I can't understand them wanting to give him the full early repayment charge back if it's only one person from the previous joint mortgage on the new deal. I know he couldn't afford to take on the existing mortgage on his own so his new mortgage would also be of a lesser value. Is there any truth to what he's saying?

Thanks

[Deleted User]

If he borrows the same amount he gets the full ERC back.  If he borrows less he should get a proportional refund (50% borrowing = 50% refund)

sarahh-

Thank you. Would that also work the same for me then, if I were to get a Halifax mortgage once we sell.
Surely they wouldn't agree to give us both back the ERC and we would each be limited to 50% of it?

[Deleted User]

It will be refunded to the first person who applies for funds.