I've been doing that with any money left over my €10K savings
Annual gross income from employment or profession:
€60,000
Mortgage on home
€170K
But is it really Interest Only or are you making capital repayments?It's a variable rate mortgage over 32 years with a current rate of 3.65%
I had to read this a few times. I think the template to complete has this heading:You're saying you started a tracker mortgage interest only 6 months ago?
You have been overtaking this interest only loan with any spare cash?
I would say set up a pension, contributing say 5% per annum is 3,000 per year maybe?
But if the mortgage is interest only what are you going to do in 32 years time when the bank demands repayment in full?
Interest only on owner occupied seems odd to me. I can only think this is a re arranged investment property.
thanks for coming back to me Brendan.A mortgage three times your income when interest rates are relatively high is a bit too high.
I think I would aim to bring the mortgage down to twice your income before starting a pension.
Brendan
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?