My partner and I have just split up. We own a house together and are now selling with the intention of both buying on.
210k left on the mortgage, with early exit fee 6k. house is jointly owned by we have a deed of trust because he put in 60k deposit and mine was 20k. Neither of us can afford to buy the other out. Our house has just gone on the market.
it’s a nasty break up, he was controlling and physically abusive so I’m keen to cut ties. We already agreed that once we have a buyer we would both move out and break the chain - unless our onward purchases are both lining up perfectly.
he wants to port the mortgage towards his new house when he finds one. I don’t like this because I’m concerned that if we have a buyer ready, I have my onward chain ready, but his falls down, none of it can go through. Whereas if we pay off our mortgage and he’s taking out a new one, if his onward chain is taking ages or he doesn’t find somewhere, I can still move on and he can go stay with family to let our buyer move in.
am I being crazy? It would save us the early repayment fee but I don’t want my moving on to be dependent on his.