moody blues
Registered User
- Messages
- 11
In serious crap:
Am a high income earner, stressful job though, PAYE, however, have 3 Euro loans o/s bal = Euro 76k, and 4 GBP Loans outstanding bal = GBP 57k. Never defaulted or went into arrears etc.
Age:
33
Spouse’s/Partner's age:
31 - recently unemployed
Annual gross income from employment or profession:
E82,000 after pension contributions + inc Co Car BIK adjustments
Annual gross income spouse:
E0
Type of employment:
Private sector employees
Expenditure pattern:
We are both generally 'savers' i.e. no extravagent lifestyle but bad investors in hindsight
Rough estimate of value of home
E270k currently from 380K 2 yrs ago
Mortgage on home
E340k - equity withdrawn for UK investment
Mortgage provider:
IIB
Type of mortgage: Tracker, interest only, fixed rate
Fixed for another 18 months
Interest rate
5.09%
Other borrowings – car loans/personal loans etc
Outstanding Euro Loan Balances
23k 10 yrs 335/month - 9%
26k 5 yrs 630/month - 6.9%
27k 10 yrs 320/month - 6.9%
Outstanding GBP Loan Balances
11k 7 yrs 292/mt - 5.9%
7k 5 yrs 152/mt - 6.5%
23k 10 yr 250/mt - 8%
16k 10 yrs 227/my - 6.7%
E1450.00 in Mortgage repayments (Int only)
GBP 715/mt less net rent GBP 515 = negative cashflow of GBP 200 (property in negative equity of 60k approx)
GBP 732/mt less net rent GBP 465 = negative cashflow of GBP 267 (abt 30k in equity if able to sell)
+ GBP 300/month of management co fees inclusive
Therefore Total outgoings:
Euro outgoings = 2735/mt
GBP outgoings = 1688/mt (E2k approx on current exh rates)
Do you pay off your full credit card balance each month?
Normally but currently 5k balance
Savings and investments:
GBP15,000 to cover UK repayments shortfall this year
Do you have a pension scheme?
Contributory Co Scheme
Do you own any investment or other property?
Yes,
Ages of children:
None.
Life insurance:
No.
What specific question do you have or what issues are of concern to you?
Currently have a negative cashflow every month before food, ESB etc etc
Can't seem to cut a break from the debt trap - would like to get a single loan consolidation for the Euro loans at least, over 10 years, in order to assist with cash flow.
Loans were used for investments that haven't gone well in UK.
Anyone know of a way out?
Is handing back keys of house an option when still working?
Am a high income earner, stressful job though, PAYE, however, have 3 Euro loans o/s bal = Euro 76k, and 4 GBP Loans outstanding bal = GBP 57k. Never defaulted or went into arrears etc.
Age:
33
Spouse’s/Partner's age:
31 - recently unemployed
Annual gross income from employment or profession:
E82,000 after pension contributions + inc Co Car BIK adjustments
Annual gross income spouse:
E0
Type of employment:
Private sector employees
Expenditure pattern:
We are both generally 'savers' i.e. no extravagent lifestyle but bad investors in hindsight
Rough estimate of value of home
E270k currently from 380K 2 yrs ago
Mortgage on home
E340k - equity withdrawn for UK investment
Mortgage provider:
IIB
Type of mortgage: Tracker, interest only, fixed rate
Fixed for another 18 months
Interest rate
5.09%
Other borrowings – car loans/personal loans etc
Outstanding Euro Loan Balances
23k 10 yrs 335/month - 9%
26k 5 yrs 630/month - 6.9%
27k 10 yrs 320/month - 6.9%
Outstanding GBP Loan Balances
11k 7 yrs 292/mt - 5.9%
7k 5 yrs 152/mt - 6.5%
23k 10 yr 250/mt - 8%
16k 10 yrs 227/my - 6.7%
E1450.00 in Mortgage repayments (Int only)
GBP 715/mt less net rent GBP 515 = negative cashflow of GBP 200 (property in negative equity of 60k approx)
GBP 732/mt less net rent GBP 465 = negative cashflow of GBP 267 (abt 30k in equity if able to sell)
+ GBP 300/month of management co fees inclusive
Therefore Total outgoings:
Euro outgoings = 2735/mt
GBP outgoings = 1688/mt (E2k approx on current exh rates)
Do you pay off your full credit card balance each month?
Normally but currently 5k balance
Savings and investments:
GBP15,000 to cover UK repayments shortfall this year
Do you have a pension scheme?
Contributory Co Scheme
Do you own any investment or other property?
Yes,
Ages of children:
None.
Life insurance:
No.
What specific question do you have or what issues are of concern to you?
Currently have a negative cashflow every month before food, ESB etc etc
Can't seem to cut a break from the debt trap - would like to get a single loan consolidation for the Euro loans at least, over 10 years, in order to assist with cash flow.
Loans were used for investments that haven't gone well in UK.
Anyone know of a way out?
Is handing back keys of house an option when still working?