1
1150gs
Guest
Age: 40
Spouse’s/Partner's age: 39 ish
Annual gross income from employment or profession: 70000
Annual gross income of spouse:42000
Type of employment: both with private companies
In general are you:
We are spenders.
Rough estimate of value of home €390,000
Amount outstanding on your mortgage: €289,000
What interest rate are you paying?
Tracker with EBS 0.95% +ECB 18years remaining
Other borrowings – car loans/personal loans etc
Top Up Loan €42,000
Car €6,000
Credit Union €10,000
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card? €1,100 and at the limit...
Savings and investments: €5,000 credit union shares (but untouchable because of loans outstanding)
Do you have a pension scheme? €300 and €200/month
Do you own any investment or other property? No
Ages of children: None and no intensions.. 2 mutts though.
Life insurance: yes
What specific question do you have or what issues are of concern to you?
Wow!! we had a great boom time!! But its pay back time now.
We have a large detached 4 bed house. Had it valued at 390k.
Question; should we sell our home to clear all debts? Then rent for 12 months, with a view to buying a home then and reducing the mortgage by half, and knocking 10 years off the term...but we'd loose our good tracker rate..?
Any help or advise would be great thanks...
Spouse’s/Partner's age: 39 ish
Annual gross income from employment or profession: 70000
Annual gross income of spouse:42000
Type of employment: both with private companies
In general are you:
We are spenders.
Rough estimate of value of home €390,000
Amount outstanding on your mortgage: €289,000
What interest rate are you paying?
Tracker with EBS 0.95% +ECB 18years remaining
Other borrowings – car loans/personal loans etc
Top Up Loan €42,000
Car €6,000
Credit Union €10,000
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card? €1,100 and at the limit...
Savings and investments: €5,000 credit union shares (but untouchable because of loans outstanding)
Do you have a pension scheme? €300 and €200/month
Do you own any investment or other property? No
Ages of children: None and no intensions.. 2 mutts though.
Life insurance: yes
What specific question do you have or what issues are of concern to you?
Wow!! we had a great boom time!! But its pay back time now.
We have a large detached 4 bed house. Had it valued at 390k.
Question; should we sell our home to clear all debts? Then rent for 12 months, with a view to buying a home then and reducing the mortgage by half, and knocking 10 years off the term...but we'd loose our good tracker rate..?
Any help or advise would be great thanks...