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Selling house/breaking up - how does it work?

2 replies

Ashortletter · 21/04/2023 11:43

House is on the market, and looks like instead of finding an onwards property together we will be going our separate ways. Plan was to port the existing mortgage, taking the low interest rate with us, but that's not going to happen now. Wonder if anyone knows if 1) can one person port the existing mortgage, and is it possible to lower the amount borrowed (I guess not?) 2) how does it actually work on the day of sale, would we have two sets of solicitors who would receive our respective shares of the sale and handle onwards purchases, or would it go through one solicitor? I would be looking to buy my own property, not sure about other half. Any practical advice gratefully received!

OP posts:
Lonecatwithkitten · 21/04/2023 12:08

You need to agree if one person is getting to port the mortgage the other person named on the mortgage needs to give permission for the other person to keep the deal ( as long as they meet the affordability criteria).
You will need separate solicitors for your onward purchases.

Ashortletter · 21/04/2023 18:06

Thank you!

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