David Silva
Registered User
- Messages
- 12
Age:
35
Spouse age:
35
Annual gross income from employment or profession:
E73680 Also receive 3000 expences
Annual gross income spouse:
E55,000
Type of employment:
Public semi state
Civil servant (Spouse)
Expenditure pattern:
Generally we spend less than we earn.
Rough estimate of value of home:
210,000
Mortgage details:
173,000 outstanding 25 years left of 35 year mortgage INBS/IBRC now Mars Capital
Monthly payments 750 a month with TRS
Other borrowings – car loans/personal loans etc
None
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
E90,000 savings
Do you have a pension scheme?
Yes defined benefit pay 4872 per anum
Spouse: Yes civil servant
Do you own any investment or other property?
Yes, 2 Bed Ground floor apartment 28 years left of 35 year mortgage.
Rental income: 8400
Mortgage payments: 1100
Property value: 115,000
Loan balance: 225,000
Equity: - 110,000
Ages of children:
1 & 2.5
Childcare 900 per month
Life insurance:
Yes.
What specific question do you have or what issues are of concern to you?
1. House purchase
Currently seeking to sell PPR 3 bed semi for bigger family home. Price range we are looking at is 300K-350K. We currently feel no advantage crystallising the loss on the 2nd property, this was bought before we met not as investment. My wife is currently using leave to have a 3 day week. On our current income I would be comfortable with a mortgage of that level but my wife will look to job share and go on 3 day week full time thus reducing income to approx. 33k per anum. We are also planning to have another child next year. My question is are we foolish to be giving up such a comfortable position to upgrade our home or is there other options out their that we are overlooking. Do you think a professional would help advise or is it our own propensity to risk? Thoughts views appreciated.
35
Spouse age:
35
Annual gross income from employment or profession:
E73680 Also receive 3000 expences
Annual gross income spouse:
E55,000
Type of employment:
Public semi state
Civil servant (Spouse)
Expenditure pattern:
Generally we spend less than we earn.
Rough estimate of value of home:
210,000
Mortgage details:
173,000 outstanding 25 years left of 35 year mortgage INBS/IBRC now Mars Capital
Monthly payments 750 a month with TRS
Other borrowings – car loans/personal loans etc
None
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
E90,000 savings
Do you have a pension scheme?
Yes defined benefit pay 4872 per anum
Spouse: Yes civil servant
Do you own any investment or other property?
Yes, 2 Bed Ground floor apartment 28 years left of 35 year mortgage.
Rental income: 8400
Mortgage payments: 1100
Property value: 115,000
Loan balance: 225,000
Equity: - 110,000
Ages of children:
1 & 2.5
Childcare 900 per month
Life insurance:
Yes.
What specific question do you have or what issues are of concern to you?
1. House purchase
Currently seeking to sell PPR 3 bed semi for bigger family home. Price range we are looking at is 300K-350K. We currently feel no advantage crystallising the loss on the 2nd property, this was bought before we met not as investment. My wife is currently using leave to have a 3 day week. On our current income I would be comfortable with a mortgage of that level but my wife will look to job share and go on 3 day week full time thus reducing income to approx. 33k per anum. We are also planning to have another child next year. My question is are we foolish to be giving up such a comfortable position to upgrade our home or is there other options out their that we are overlooking. Do you think a professional would help advise or is it our own propensity to risk? Thoughts views appreciated.