It might be useful to consider what an observer colocated with you at t=0 and moving with the rope would see.
Said observer would fall into the black hole at some finite proper time ##\tau## on his wristwatch. He'd see the event horizion as a lightlike surface approaching him at "c". Assuming a large black hole and ignoring tidal effects, the distance to the event horizion from the ropes frame of referece would be ##c \, \tau##.
Meanwhile the ship would be flying away from the black hole and accelerating, laying out more rope. When the front of the rope reaches the event horizon, the ship would have p.ayed out approximately ##.99 \, c \, \tau## meters of rope ignoring the acceleration of the ship. Taking into account the acceleration of the ship the rope must stretch, as Egan has indicated.
Trying to consider things in the Schwarzschild frame isn't going to really work well, as our intuition of what a rope "should do" works best in a frame that's co-moving with the rope.