Sorry if this isn’t the right place to ask this. We extended ourselves to our limit moving from the home counties back to London when I was pregnant last year. On the broker’s advice we ported our old mortgage of 240k which has just come due for renewal this month (given what’s happened to interest rates since we are obviously kicking ourselves about this) and added on a new mortgage of 390k.
Things are currently really not great between us and I’m thinking increasingly seriously of separating. Neither of us can afford to buy the other out and if we exit our mortgage early the penalty will be massive. Does anyone know if it’s possible to “split” the two halves of our mortgage? Sign each part over to one of us and each of us take that part of the mortgage on to a newer smaller property? It would work perfectly but I suppose there’s no incentive for the bank to do it…