I jointly own my former marital home with my ex wife. We are divorced but still kept the property in joint name until we both agreed to sell. She lives there with our children and I rent a place and have the children 3 nights a week.
When we were together, we made a chunk of mortgage overpayments. I'm not sure how much at this point but possibly £10k - £15k. I found out tonight that she has been using these overpayments to reduce the monthly mortgage payments over the last 18 months unbeknown to me.
I naively didn't even think that would be possible. In fact, I didn't even know that was a thing??? Am I right in thinking that this should be more difficult to arrange for one person on a joint mortgage?
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Mortgage Overpayments
MrFitz · 06/08/2023 01:13
Selfesteem23 · 06/08/2023 07:42
Our overpayments don’t reduce the monthly payments they reduce the term.
pilates · 06/08/2023 07:41
I’m a bit confused. Making overpayments reduces the monthly repayments - did you not realise that? Isn’t that good?
Cherry42 · 06/08/2023 08:41
No, they reduce the term.
pilates · 06/08/2023 07:41
I’m a bit confused. Making overpayments reduces the monthly repayments - did you not realise that? Isn’t that good?
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