An offer usually has a little bit of negotiation in it, rarely do people offer their top end unless there is a lot of interest in the property which usually ends up with people putting in their best offers to try and secure the property.
You have said yourself the property needs updating and therefore it could be seen as a bit of a bargain, however you have found that the reality of selling a property is that it is only worth what someone is prepared to pay for it and if there is only one party interested, there is no need to offer high as there is no competition - this is where a good agent will do his work in squeezing that little bit extra out of the buyer and it sounds like that is exactly what has happened so think you are right to have held out, made the agent work and accepted an offer you are all happy with.
With regards to the mortgage payments, i am guessing that whilst rates have gone down, your ex has continued to pay the installments at a higher figure, therefore ultimately reducing the capital owed on the mortgage. Now he has dropped the payment to the figure that relates to the interest rates now, it has meant that he is no longer paying off the capital at such a great rate of knots, so am i right in thinking that you feel that you are missing out on the equity you would have had in the property had your ex continued to pay at the higher rate? therefore once the redemption of the mortgage takes place on completion of the sale, there will be more mortgage to pay off than you thought there would be.
I think that is what you are saying and asking, and if that is correct, i don''t think that you are on a winner there - simply because he was prudent enough to over pay the mortgage installments while you were together thus paying off the mortgage quicker, and now he is paying what the interest rate actually requires him to pay - in essence, he is paying the mortgage - i don''t think you can prejudice him for paying what he is supposed to pay rather than over paying it as he was
perhaps that is not what you want to hear and I am sorry if that is the case, and i am double sorry if i have completely mis read your question
Thank you for the reply. Yes you understood the question well and it would appear that there is little I can do other than be somewhat miffed that he reduced the payment without telling me. It is a joint mortgage after all!
I think that is all you can do however like you say, your expectations were that he would continue to do as he was but he didn''t tell you that he had changed things.
I guess though that there is still more equity given his overpayments than there would have been had he only paid at the lower rates as they went down. Doesn''t help with the figures you thought you were working with though