Palantir_Use
Registered User
- Messages
- 26
Surely you can deal with this by post or online?The credit card is mainly lazyness ... I need to find time to get down to my local branch and transfer the money over from the savings.
Why don't you clear the other loan rather than saving while carrying debt?Once I can pay off the credit card, I could do one of two things ...
Saving while carrying debt makes no sense to me. Using a credit card other than as a cashflow tool and clearing the bill every month before interest charges kick in likewise.- either way the current setup does not make sense.
On what amount? Don't forget to factor in the once off (conveyancing and related fees etc.) and ongoing (mortgage protection life assurance premiums, home insurance premiums, other ongoing expenses/bills not applicable in a rental situation) expenses associated with buying a house. You probably need to detail your current budget and how this might be impacted by a house purchase.the "estimates" I've gotten are c. 1k per month for 35 years ... but in the last four years that figure has been going up faster than my ability to pay it, so with the recent downturn, i gotta get in!
Make sure to make allowance for possible interest rate hikes.Subtracting the amount I spend on rent/food/regular expenses leaves me with €1580
this is more than enough to cover a basic mortgage of €1100 plus house&contents and life insurance
Better than hoping would be to check what these expenses are or are likely to be and then draw up a budget to check if you can deal with them all.with (hopefully) enough to cover the irregular expenses
Dealing with the savings account:
- the bank refuse to do ANYTHING to the savings account without me coming in and "shaking hands". I've considered closing the account over this issue several times ... particularly since it only pays 0.25% more interest than a standard 0-notice deposit account
Eh? Choice about what precisely? Have you done what I suggested?Aside from robbing my local post office, or winning the lottery, I don't have a whole pile of choice
And what CCOVICH suggested:You probably need to detail your current budget and how this might be impacted by a house purchase.
It costs nothing to switch-0.25% is a pathetic return. There are plenty of threads on the best value savings/deposits-some in the Best Buys forum.
The credit card is mainly lazyness ... I need to find time to get down to my local branch and transfer the money over from the savings.
It got that high because of a holiday and the purchase of a computer ... it normally runs at closer to €500
Why buy now? because I personally doubt that there's ever a "good" time to buy, and because house prices in the Meath area have taken a bit of a tumble recently.
And well below the 5.22% gross CAR it could be earning in First Active's eSavings account. Of course you probably should use some of the savings to just clear the CC balances first anyway.ClubMan
The bank claims that the return on the savings is 3.75%pa before dirt ... but its still well below inflation ... maybe I overstated abit, but it really isn't growing either
Why not? Did you not retain the renewal notice/payment receipt? Do you not shop around each year?Household & Contents Insurance - no idea how much this is ...
I don't think so. I doubt that you can assign the work policy to a lender.Life Insurance offset against Mortgage - again ... no idea (but my death in service benefit from my job already tops the amount GMC mortgages have gotten approval in principle for me - don't know if I can tie the two together?)
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