N
New2this
Guest
Age: 31
Annual gross income from employment or profession: 58,800
Type of employment: e.g. Civil Servant - semi state
In general are you:
(a) spending more than you earn, or
(b) saving? - b
Rough estimate of value of home – 250,000
Amount outstanding on your mortgage: - 195,000 (163,000 at 5.1 fixed until this july) (32,000 top up at 5.1 fixed until July 2010)
What interest rate are you paying? 5.1 fixed
Other borrowings – car loans/personal loans etc – no
Do you pay off your full credit card balance each month? - yes
If not, what is the balance on your credit card?
Savings and investments: Only about 2 grand as getting married soon and all savings have been spent on this. Once this is out of the way will be saving 500 a month from the summer again.
Do you have a pension scheme? yes
Do you own any investment or other property? I am moving out of my property into husband to be’s which has no mortgage on it. Just rented my place this week, have contacted bank to get information on breaking fixed rate and cost to move to investment or other bank. They said if I stay with them I just need to write to them informing them that I’m moving out and they will adjust trs etc. I would have liked to sell house but cant in current climate.
Ages of children: None yet but hopefully in next few years.
Life insurance: 12.50 on main mortgage, 12.50 on top up
What specific question do you have or what issues are of concern to you?
I am waiting on the letter to see if breaking fixed rate and/or moving to another bank would be a better option now this is an investment property.
Should I change to interest only mortgage as it will be investment. Currently my mortgage works out at 1045 a month, rental income is 845, any rough guildline on the tax implications with these sort of figures?
Anything else you can advise thanks
Annual gross income from employment or profession: 58,800
Type of employment: e.g. Civil Servant - semi state
In general are you:
(a) spending more than you earn, or
(b) saving? - b
Rough estimate of value of home – 250,000
Amount outstanding on your mortgage: - 195,000 (163,000 at 5.1 fixed until this july) (32,000 top up at 5.1 fixed until July 2010)
What interest rate are you paying? 5.1 fixed
Other borrowings – car loans/personal loans etc – no
Do you pay off your full credit card balance each month? - yes
If not, what is the balance on your credit card?
Savings and investments: Only about 2 grand as getting married soon and all savings have been spent on this. Once this is out of the way will be saving 500 a month from the summer again.
Do you have a pension scheme? yes
Do you own any investment or other property? I am moving out of my property into husband to be’s which has no mortgage on it. Just rented my place this week, have contacted bank to get information on breaking fixed rate and cost to move to investment or other bank. They said if I stay with them I just need to write to them informing them that I’m moving out and they will adjust trs etc. I would have liked to sell house but cant in current climate.
Ages of children: None yet but hopefully in next few years.
Life insurance: 12.50 on main mortgage, 12.50 on top up
What specific question do you have or what issues are of concern to you?
I am waiting on the letter to see if breaking fixed rate and/or moving to another bank would be a better option now this is an investment property.
Should I change to interest only mortgage as it will be investment. Currently my mortgage works out at 1045 a month, rental income is 845, any rough guildline on the tax implications with these sort of figures?
Anything else you can advise thanks