Age: 31
Spouse’s/Partner's age: 31
Annual gross income from employment or profession: 50k+ bonuses ( up to 5k )
Annual gross income of spouse: 40k
Type of employment: e.g. Civil Servant, self-employed - Professional ( IT ) , wife works for government
In general are you spending more than you earn or are you saving? We have a small amount going into a saving fund , and also both have decent pensions. But we are usually just covering both mortgages .
Rough estimate of value of home Our House - 400k , Investment 350K
Amount outstanding on your mortgage: 400K , Investment 294k 5.99 % , 60k@ 5.85 ( this was used a remortgage used to pay the deposit on our new house )
What interest rate are you paying?
400k 3year fixed 4.99%
294k 5.99 % , 60k@ 5.85
Other borrowings – car loans/personal loans etc
Car Loan for 15K from a parent , no interest.
Personal Loan with Cormarket 7.9% 5k over 3 years.
Do you pay off your full credit card balance each month? Usually.
If not, what is the balance on your credit card?
Savings and investments: Pension , Investment property and Savings .
Do you have a pension scheme?
Yes
Do you own any investment or other property?
Yes
Ages of children:
1 year old and one on the way
Life insurance:
yes
What specific question do you have or what issues are of concern to you?
We recently bought an investment property , we went interest only ( variable ) The mortgage was barely being covered , and now interest rate has increased and we are 200 euro down a month , if one person moves out we could be down as much as 600 euro a month . we have one baby under 2 and another on the way . Considering the amount of worry and time involved in the investment property , is it worth it or are we better off looking for another way to invest our money..
Spouse’s/Partner's age: 31
Annual gross income from employment or profession: 50k+ bonuses ( up to 5k )
Annual gross income of spouse: 40k
Type of employment: e.g. Civil Servant, self-employed - Professional ( IT ) , wife works for government
In general are you spending more than you earn or are you saving? We have a small amount going into a saving fund , and also both have decent pensions. But we are usually just covering both mortgages .
Rough estimate of value of home Our House - 400k , Investment 350K
Amount outstanding on your mortgage: 400K , Investment 294k 5.99 % , 60k@ 5.85 ( this was used a remortgage used to pay the deposit on our new house )
What interest rate are you paying?
400k 3year fixed 4.99%
294k 5.99 % , 60k@ 5.85
Other borrowings – car loans/personal loans etc
Car Loan for 15K from a parent , no interest.
Personal Loan with Cormarket 7.9% 5k over 3 years.
Do you pay off your full credit card balance each month? Usually.
If not, what is the balance on your credit card?
Savings and investments: Pension , Investment property and Savings .
Do you have a pension scheme?
Yes
Do you own any investment or other property?
Yes
Ages of children:
1 year old and one on the way
Life insurance:
yes
What specific question do you have or what issues are of concern to you?
We recently bought an investment property , we went interest only ( variable ) The mortgage was barely being covered , and now interest rate has increased and we are 200 euro down a month , if one person moves out we could be down as much as 600 euro a month . we have one baby under 2 and another on the way . Considering the amount of worry and time involved in the investment property , is it worth it or are we better off looking for another way to invest our money..