- Jurisdiction
- United Kingdom
Been divorced since early this year and I have a question regarding the house/mortgage situation.
Myself & ex bought the house with a joint mortgage on a 5-year fixed rate which is due to expire at the end of October 2022, however I know that in the final year of the fixed rate term it is possible to exit the mortgage with much lower exit fees than normal. My question is regarding the wording of the financial order as below:-
"The applicant agrees to and undertakes to the Court and the respondent to continue to meet the regularly monthly mortgage payments and to procure the release of the respondent from the aforementioned mortgage as soon as he is able to and following the expiration of the penalty period under the terms of the mortgage being 31.10.2022 and to indemnify the respondent of any liability under the terms of the mortgage. "
Would the date mentioned in the financial order matter, or would I be able to exit the mortgage early?
Myself & ex bought the house with a joint mortgage on a 5-year fixed rate which is due to expire at the end of October 2022, however I know that in the final year of the fixed rate term it is possible to exit the mortgage with much lower exit fees than normal. My question is regarding the wording of the financial order as below:-
"The applicant agrees to and undertakes to the Court and the respondent to continue to meet the regularly monthly mortgage payments and to procure the release of the respondent from the aforementioned mortgage as soon as he is able to and following the expiration of the penalty period under the terms of the mortgage being 31.10.2022 and to indemnify the respondent of any liability under the terms of the mortgage. "
Would the date mentioned in the financial order matter, or would I be able to exit the mortgage early?
