Hi I'm wondering if anyone here could give me some advice.
I am very lucky to be in a decent full time long term job.
I earn €646.00 per week into my bank.
I have the following loans/credit card/mortage.
BOI Loan: 2500 principle/2000 remainder/€27.00 per week. (2 yr term)
Credit Union: 4500 principle/4000 remainder/€80.00 per week. (1 yr term)
Credit Card:7000 limit/6700 remainder/€150 min a month.
PTSB Mortage:265000 principle/242000 remainder/€1308 per month. (year 6 of 35)
So my monthly credit repayments are €1886 per month leaving a balance of €698 for everthing else including bills.
Bills (Elec,Gas,Health,TV Licence,Life Ins, Home Ins, Bins) €340.00.
Which leaves just €358 per month for food etc.
If I take out my mortage from my debt i have a debt €12700 total.
If I take my mortage repayment out monthly I am repaying €578.
I cant move home and I cant save as my outgoings are to high.
I want to carry out some work on my home which will make it much better suited for my young family as we will be staying for 10 ten or more years.
This work will cost €6000. I would dearly love to reduce my monthly payment by just a small amount. €110 euros a week versus € 144 per week, the credit card debt is just like a rock at the moment.
I dont smoke or drink. I have a wife, a little girl and one on the way.
Do you think any bank would offer me a loan of €18700 over a 4 year period?
How do I go about presenting this to a bank?
Am I just out of my mind?
Would the offer to switch current bank help?
I am very lucky to be in a decent full time long term job.
I earn €646.00 per week into my bank.
I have the following loans/credit card/mortage.
BOI Loan: 2500 principle/2000 remainder/€27.00 per week. (2 yr term)
Credit Union: 4500 principle/4000 remainder/€80.00 per week. (1 yr term)
Credit Card:7000 limit/6700 remainder/€150 min a month.
PTSB Mortage:265000 principle/242000 remainder/€1308 per month. (year 6 of 35)
So my monthly credit repayments are €1886 per month leaving a balance of €698 for everthing else including bills.
Bills (Elec,Gas,Health,TV Licence,Life Ins, Home Ins, Bins) €340.00.
Which leaves just €358 per month for food etc.
If I take out my mortage from my debt i have a debt €12700 total.
If I take my mortage repayment out monthly I am repaying €578.
I cant move home and I cant save as my outgoings are to high.
I want to carry out some work on my home which will make it much better suited for my young family as we will be staying for 10 ten or more years.
This work will cost €6000. I would dearly love to reduce my monthly payment by just a small amount. €110 euros a week versus € 144 per week, the credit card debt is just like a rock at the moment.
I dont smoke or drink. I have a wife, a little girl and one on the way.
Do you think any bank would offer me a loan of €18700 over a 4 year period?
How do I go about presenting this to a bank?
Am I just out of my mind?
Would the offer to switch current bank help?