Hi All,
Heres the thing, i keep hearing about "those who got a 100% mortgage in the past 5 years are in big trouble with the downturn". Perhaps you could help me to see if we could tighten up a bit or where we could improve.
Mortgage = 100% at €205000 in 2005
Mortgage rate = Tracker
Mortgage monthly payments = €908 (With the ECB increase prob €948??)
Type of house - 4 Bed semi detached
Outgoings
Sky Digital - €68
Bins Monthly - 26
Credit union savings - 40 pm
Car insurance - 750 yearly
Car Tax - 290
Life Insurance - 33
House Insurance - 29 over nine months
ESB Bill x 2Months - €80 - 180 winter months
Gas bill x 2 months - €130 - 200 in winter months
Eircom bill x 2 months with eircom talk time and broadband bundle - € 130
Weekly shopping - €100
Husbands travel expences - Husband gets monthly train ticket - €241
My travel expences - Annual ticket deducted weekly from wage - €44
Car - Weekly petrol = €30
Combined income - €56000
We are looking at getting a second car.one bigger than what we currently use whichis a fiesta but we will not be doing a trade in. Could we afford that? Eventually we would like to have children and i am wondering if we could afford this also. ANy help is really appriciated.
Heres the thing, i keep hearing about "those who got a 100% mortgage in the past 5 years are in big trouble with the downturn". Perhaps you could help me to see if we could tighten up a bit or where we could improve.
Mortgage = 100% at €205000 in 2005
Mortgage rate = Tracker
Mortgage monthly payments = €908 (With the ECB increase prob €948??)
Type of house - 4 Bed semi detached
Outgoings
Sky Digital - €68
Bins Monthly - 26
Credit union savings - 40 pm
Car insurance - 750 yearly
Car Tax - 290
Life Insurance - 33
House Insurance - 29 over nine months
ESB Bill x 2Months - €80 - 180 winter months
Gas bill x 2 months - €130 - 200 in winter months
Eircom bill x 2 months with eircom talk time and broadband bundle - € 130
Weekly shopping - €100
Husbands travel expences - Husband gets monthly train ticket - €241
My travel expences - Annual ticket deducted weekly from wage - €44
Car - Weekly petrol = €30
Combined income - €56000
We are looking at getting a second car.one bigger than what we currently use whichis a fiesta but we will not be doing a trade in. Could we afford that? Eventually we would like to have children and i am wondering if we could afford this also. ANy help is really appriciated.