Associate
Short version of the issue.
My girlfriend and I bought a house in December 2016. This was our first house and we entered into a 2 year fixed mortgage.
We paid a third and two thirds of the deposit respectively, and have made the same ratio of payment on the mortgage every month since living there. We signed an 'unequal share' contract when moving in together.
We have recently broken up and have moved into seperate rooms, she will be moving out as she can't afford to live here on her own, I'm going to stay in the house and take over the payments.
I realise that if we re-mortgage now then we get a massive charge to do so.
I have enough cash to pay her deposit back to her. But I'm not sure what to do about any other money she may be owed, or what to do with the mortgage itself. Whether I have to change the names on it, or if it's best to hold out until the 2 years is up. I'm worried about going to a mortgage advisor in case they mis-advise me for their own gain.
We are fairly civil at the moment, and I wouldn't want to do her out of anything she is owed, but if anyone has any advice or experience with what to do, it would be greatly appreciated as the situation needs to be resolved now.
Cheers.
My girlfriend and I bought a house in December 2016. This was our first house and we entered into a 2 year fixed mortgage.
We paid a third and two thirds of the deposit respectively, and have made the same ratio of payment on the mortgage every month since living there. We signed an 'unequal share' contract when moving in together.
We have recently broken up and have moved into seperate rooms, she will be moving out as she can't afford to live here on her own, I'm going to stay in the house and take over the payments.
I realise that if we re-mortgage now then we get a massive charge to do so.
I have enough cash to pay her deposit back to her. But I'm not sure what to do about any other money she may be owed, or what to do with the mortgage itself. Whether I have to change the names on it, or if it's best to hold out until the 2 years is up. I'm worried about going to a mortgage advisor in case they mis-advise me for their own gain.
We are fairly civil at the moment, and I wouldn't want to do her out of anything she is owed, but if anyone has any advice or experience with what to do, it would be greatly appreciated as the situation needs to be resolved now.
Cheers.