What to do about joint mortgage & relationship ending?

[dancingmice]

Grateful for advice! Sibling bought a property with DP last year but have now broken up. Trouble is the house...

Each have 50% of the mortgage but sibling put in £350k; DP only put in £30k. Can't sell as would make a loss given mortgage early repayment charge. Can't buy out DP and put parent on mortgage as guarantor as too old so monthly repayments would be unaffordable. Would need £160k to pay mortgage down to a level the lender would approve as solo buyer but couldn't do that for probably 18 monthly and even then might not happen (would be an early inheritance). Sibling desperate to get xDP off the house ownership. Any ideas on what to do?! They're not married and no children but sibling earns about double DP. TIA

Is the house tenants in common or joint tenants? I fear if it is the latter you sibling may have put themselves in a horrible position.

Did your sibling protect their share of the deposit?

Do they born in unequal shares (tenants in common vs joint tenants)?

Why is the push to take ex off the mortgage urgent? Just to get it done? Because in the scenario you’ve outline, the best way forward would be to agree ex stops paying mortgage and moves out, they agree a settlement figure based on how the equity stands at this date, payable in 18 months’ time (may need to add a more generous split to account for opportunity loss to ex of waiting 18 months).

Other option is ex moves out but continues to pay 50% of mortgage, then in 18 months when sis can buy him out they calculate the equity split on the house prices at that time.

Tenants in common luckily. They have a Deed of Trust but that says the profit would be split 50/50, which seems unfair when xDP has done nothing for the house (a complete refurb) but sibling might just have to suck that up.

@NoSquirrels yes I think your first suggestion might be the best option. I'll suggest that, thank you

Urgency is just to make a clean break really. Given ages I'm sure they'd both want to move on in the not too distant future, which is harder when they're still tied by the mortgage

There’s no real incentive for the ex to wait though they don’t get to live in the house and have their money tied up in it with which to help buy another

I’m unsure on the legalities but no marriage and no kids I think the ex can apply to force a sale anyway

Thanks @Changemaname1. Trouble is they'd both lose money if they sell due to the early mortgage charge (mortgage is less than a year so a hefty whack). There's not really any good option here so far

Ah yes sorry that makes sense so in that regard perhaps the ex would be happy to hang on