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  1. D

    How are we doing and where are we going?

    My thoughts too @RedOnion. I was v surprised. The UB agent who calculated it couldn’t explain it really. Yes, the rate I negotiated with EBS has always maintained the the same circa 0.4% differential as rates moved. An explanation may be in the fact that I have 6 of the 20 years remaining on...
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    How are we doing and where are we going?

    Updating that I contacted UB today re this. They ran the numbers and I would be worse off by around €200 per month by moving to them!!! While they are quoting headline rates of 2.3% and 2.4% for fixed terms it appears the APR is around the 3.9% mark. That’s a bit more than the 3.37% I currently...
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    How are we doing and where are we going?

    Hey Mr Earl, thanks for the straight feedback. You are probably right in terms of me being “overly loyal” to EBS. I’ve been with them for various mortgages since 1996 and there is probably an element of sentiment in where I’m coming from. That should have little bearing on cold financial...
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    How are we doing and where are we going?

    Thanks DeeKie. No tattoos yet RedOnion. One has been scouting for but not taken the plunge yet. Hoping he chickens out ! I checked the effect of a 2.6% rate and it would appear to save us around €70 per month. That’s on a loan of €119k (remaining now) and a house valued around €600k. 7 years 8...
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    How are we doing and where are we going?

    Brief update. Did the first overpayment on the mortgage today with the EBS. Woo-hooo. A €1k lump sum off the principle. Inquired about the fixed rate at 3.15% for one year. Would save a few €uro monthly but it appears i would lose my “discount rate” of 3.37% (which i haggled for big-time) at...
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    How are we doing and where are we going?

    Thought to post up what we’re considering doing with the additional circa €1k per month we now have as a result of the inheritence received. We’ve been enjoying the grace period this last while. What works in our heads is to have three directions for putting the cash to work. The likely plan...
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    How are we doing and where are we going?

    Thanks again all. Always interesting to get others’ viewpoints. Some very useful observations. BTW RedOnion I too hope the tattoo(s) will be tasteful too. Will enjoy the three month grace period and use the time come up with a plan. Will post again once we’ve an outline of what we intend to...
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    How are we doing and where are we going?

    Thought to provide an update on this snowy day. The inheritance came through a little quicker than expected and so far I’ve done the following: 1. Paid off the smaller of the mortgages, €88k. This will free up €850 per month. Saved abut €15k in interest or thereabouts too as a result by my...
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    How are we doing and where are we going?

    Thanks RedOnion. Your last sentence hits the nail entirely on the head for me. I really want to get our decision making around this right. It is probably going to be the biggest amount we will ever get in a lump sum in our lives. My fear is that the extra money we end up with will just end up...
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    How are we doing and where are we going?

    Thanks so-crates. Yes the hope is that third level will be here in Dublin which will make the costs that bit more manageable. We pay €500 pm for each of the kids for 9 months so we'd hope to save on a bit of that. I had thought we were doing reasonably well on the pension front but I hope to...
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    How are we doing and where are we going?

    Money Makeover Details: Age: 50 Spouse’s/Partner's age: 53 Annual gross income from employment or profession: €98,000 Annual gross income of spouse: €49,000 Monthly take-home pay: € 7,650 Monthly expenses: circa €5k Groceries etc 1,100 Mortgage 1 1,436 Mortgage 2...
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