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Elphaba
Guest
Age: 46
Partners age: 53
Joint Gross income: 45k
Type of employment: Self employed
Expenditure pattern: Never seem to have enough money, spend more than we earn.
Rough Estimate value of home: 450k
Amount outstanding: 35k
Term remaining, told 27 months today by phone
Interest rate: 6.10% variable standard rate First Active
Monthly repayment: 290
Other Borrowings:
60k commercial mortgage, First Active, 13 years left.
Monthly repayment: 600
Car loan, First Active 6k - 2 years left
Monthly repayment: 250
Top up loan, First Active - 24,500, (rang today told 13 years remaining.)
Monthly repayment: 220
Credit card: 6k ouch. Can just about make minimum payments.
Savings: 1k in Tullow oil
Pension: Yes, in property see below
Investment property: 150k - pension (60k left to pay, commercial mtge)
Ages of children: Young adults, 21 & 17.
Life insurance: Standard mortgage protection policy.
Other outgoings, usual stuff, basic sky tv package, home phone,
no other major outgoings, apart from when car breaks down,etc
QUESTION:
Our salary has dropped a lot in last year, due to weak UK sales and also weak pound. We have always profited out of sterling in the past. Have had to get use to a drop in income, so struggling. Our loans seem all over the place.
We need to borrow €5k for daughter's last year in college. We are also thinking of borrowing €6k to clear credit card, which I cant shift, no matter how hard I try.
My teenagers have part time jobs so they do contribute. I hope to consilidate First Active loans, and borrow €12k.
Appreciate any advice, thank you
Partners age: 53
Joint Gross income: 45k
Type of employment: Self employed
Expenditure pattern: Never seem to have enough money, spend more than we earn.
Rough Estimate value of home: 450k
Amount outstanding: 35k
Term remaining, told 27 months today by phone
Interest rate: 6.10% variable standard rate First Active
Monthly repayment: 290
Other Borrowings:
60k commercial mortgage, First Active, 13 years left.
Monthly repayment: 600
Car loan, First Active 6k - 2 years left
Monthly repayment: 250
Top up loan, First Active - 24,500, (rang today told 13 years remaining.)
Monthly repayment: 220
Credit card: 6k ouch. Can just about make minimum payments.
Savings: 1k in Tullow oil
Pension: Yes, in property see below
Investment property: 150k - pension (60k left to pay, commercial mtge)
Ages of children: Young adults, 21 & 17.
Life insurance: Standard mortgage protection policy.
Other outgoings, usual stuff, basic sky tv package, home phone,
no other major outgoings, apart from when car breaks down,etc
QUESTION:
Our salary has dropped a lot in last year, due to weak UK sales and also weak pound. We have always profited out of sterling in the past. Have had to get use to a drop in income, so struggling. Our loans seem all over the place.
We need to borrow €5k for daughter's last year in college. We are also thinking of borrowing €6k to clear credit card, which I cant shift, no matter how hard I try.
My teenagers have part time jobs so they do contribute. I hope to consilidate First Active loans, and borrow €12k.
Appreciate any advice, thank you