Dissolving Brother/Sister Partnership

Myself and my brother purchased a house 5 years ago.

Here are the details:

Outstanding mortgage €262k

with PTSB on tracker - ECB + 0.95%.

We got the house valued last week at €275k.

My brother wants to dissolve the partnership in the coming months as I recently got engaged to a lovely guy.

What options are open to us?

I was thinking along the following lines:

1) I buy Brother out
2) Brother buys me out
3) Sell the House

If one of us bought each other out we wouldn't get near as good a rate from any lender. We probably wouldn't get a mortgage as our income wouldn't be enough in the stress testing. Am I right in thinking this?

My brother is a permanent primary school teacher on 45k while I work in the Software Industry on €48k.

I currently live in the house and pay the mortgage. Any advice would be great.

We had the house rented out for the first 4.75 years.

I moved in so I could carry out work on the house. Yes, a woman can!

How about :

4) Stay in house, get brother to pay half the mortgage, get fiancee to rent out his apartment and move in with you - paying rent to you, sell the house in a few years when / if someone's situation improves.