Hi,
I am wondering if you can give me some advise. I am looking to figure out if I can release equity from my home and what I can borrow. I seem to have a great deal of "wealth" tied up in my home but find month to month quite a struggle and big purchases copuldn't even be considered.
My circumstances are as follows:
Married with 3 children
Mortgage of 220K with 27 years remaining with UB @ tracker ECB +0.85%
Home vaued at €750K
SSIA is maxed and due next year.
Other "investments" of approx €50K for childrens future education.
Household income of €70K (€64K +10% bonus based on single income)
No loans or ccard balances.
I would like to be able to release some of the €530K equity for the purposes of living a little!....upgrade car, home improvements...rather than slogging month to month. Please do not suggest I save other that what I am already doing as the money just ain't there!
Any advise or guidance on what I could/should borrow is much appreciated.
thanks,
notabob!
P.S. Great forum by the way, keep up the good work!
I am wondering if you can give me some advise. I am looking to figure out if I can release equity from my home and what I can borrow. I seem to have a great deal of "wealth" tied up in my home but find month to month quite a struggle and big purchases copuldn't even be considered.
My circumstances are as follows:
Married with 3 children
Mortgage of 220K with 27 years remaining with UB @ tracker ECB +0.85%
Home vaued at €750K
SSIA is maxed and due next year.
Other "investments" of approx €50K for childrens future education.
Household income of €70K (€64K +10% bonus based on single income)
No loans or ccard balances.
I would like to be able to release some of the €530K equity for the purposes of living a little!....upgrade car, home improvements...rather than slogging month to month. Please do not suggest I save other that what I am already doing as the money just ain't there!
Any advise or guidance on what I could/should borrow is much appreciated.
thanks,
notabob!
P.S. Great forum by the way, keep up the good work!