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Splitting the equity.

  • TEIN
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30 May 12 #334127 by TEIN
Topic started by TEIN
Hi folks, does anyone know the answer to this one:

My ex has had a long standing offer on the table to buy me out which fundamentally I''ve accepted subject to a little adjustment.

However I spoke with the mtge people the other day to stop the payments for a while which we both agreed to do as we''d over paid for a bit giving us 10 mths grace.

How does this work if she re-mtge''s to buy me out which I''m told should take btwn 6 & 8 wks would she still benefit from being able to not pay for a further 8 mths or would the re-mtge cancel that potential arrangement.

My obvious concern here being that devalues the amount I''m to receive if she gets another 8 mths grace on the back of the over payments principally made by me?

Thanks TEIN

  • MrsMathsisfun
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30 May 12 #334140 by MrsMathsisfun
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I would have assumed that a remortgage would mean you start a fresh mortgage. (The current one being paid off by the new one.)

So I would think the extra payment will be reflected mortgage balance.

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