H
hopefully
Guest
Hi all,
Im new to here and was wondering if yous might help, Myself and hubby plan to start a family soon and are trying to get our finances in order, at the moment our Mortgage is €1350 per month (fixed for 5 years) and we have 2 car loans amounting to €700 per month (5 years on each). We have a house worth approx €620K and a Mortgage worth €295k we were thinking or releasing equity of 40K which will bring our mortgage to €1550 per month, Out of the 40K we plan to clear the 30k car loans and use 7k for hubby to buy a taxi plate as he is in the building game at the moment and is a bit worried he wont have anything to fall back on if it goes boom!! He has also said he will do the taxi part time now to get a bit of savings together as we havent any.
What do yous think of doing it this way???
Thanking you in advance.
Im new to here and was wondering if yous might help, Myself and hubby plan to start a family soon and are trying to get our finances in order, at the moment our Mortgage is €1350 per month (fixed for 5 years) and we have 2 car loans amounting to €700 per month (5 years on each). We have a house worth approx €620K and a Mortgage worth €295k we were thinking or releasing equity of 40K which will bring our mortgage to €1550 per month, Out of the 40K we plan to clear the 30k car loans and use 7k for hubby to buy a taxi plate as he is in the building game at the moment and is a bit worried he wont have anything to fall back on if it goes boom!! He has also said he will do the taxi part time now to get a bit of savings together as we havent any.
What do yous think of doing it this way???
Thanking you in advance.