Age:
31
Spouse’s/Partner's age:
32
Annual gross income from employment or profession:
€30,000
Annual gross income spouse:
€25,000
Type of employment: e.g. Civil Servant, self-employed
Me – Self employed, husband Employee
Expenditure pattern: In general are you spending more than you earn or are you saving?
Yes, every month
Rough estimate of value of home
€230,000
Mortgage on home
€157,000
Mortgage provider:
GE Capital
Type of mortgage: Tracker, interest only, fixed rate
Fixed
Interest rate
9.60%
Other borrowings – car loans/personal loans etc
€771.64 - pm
€360
Do you pay off your full credit card balance each month?
Sometimes
If not, what is the balance on your credit card?
1700
500
Savings and investments:
None
Do you have a pension scheme?
No
Do you own any investment or other property?
No
Ages of children:
9 months
Life insurance:
Only for mortgage
What specific question do you have or what issues are of concern to you?
We recently bought a house that needed a lot of work done to it to make it habitable particularly considering we have a young child but felt we needed to buy something so we owned our home at some stage. GE were the only company who would offer us a mortgage as I wasn’t 3 years trading, hence the interest rate. So we used all our savings on a deposit (€25,000) and stamp etc so when it came to paying for the work we borrowed. I got a loan from Blue with a ridiculously high interest rate as we were desperate and no one else who look at me and then my husband got a loan from Halifax to finish off some things.
Before we bought this house we had rent of €700 and about €2,000 a month to spend as we wished.
Now we have the mortgage, crèche fees and two personal loans we are left just over €700 a month for day to day spending / other household bills (such as oil, phone, esb, food etc) and finding it very difficult to make ends meet.
Also to make matters worse, I borrowed a €3k from my business which needs to be paid back asap as it was only a temp loan.
I need some direction as to how I’m going to get out of this mess………..
Thanks
Sinead
PS – I contacted Blue Loans about refinancing my personal loan with a better interest rate and they cannot do anything until the loan is 6 months old (next month)
31
Spouse’s/Partner's age:
32
Annual gross income from employment or profession:
€30,000
Annual gross income spouse:
€25,000
Type of employment: e.g. Civil Servant, self-employed
Me – Self employed, husband Employee
Expenditure pattern: In general are you spending more than you earn or are you saving?
Yes, every month
Rough estimate of value of home
€230,000
Mortgage on home
€157,000
Mortgage provider:
GE Capital
Type of mortgage: Tracker, interest only, fixed rate
Fixed
Interest rate
9.60%
Other borrowings – car loans/personal loans etc
Personal Loan - Me (€23000) - Blue Cube (interest 16.9)
€771.64 - pm
Personal Loan - Me (€8,500) - Halifax
€360
Do you pay off your full credit card balance each month?
Sometimes
If not, what is the balance on your credit card?
Credit card one
1700
Credit card two
500
Savings and investments:
None
Do you have a pension scheme?
No
Do you own any investment or other property?
No
Ages of children:
9 months
Life insurance:
Only for mortgage
What specific question do you have or what issues are of concern to you?
We recently bought a house that needed a lot of work done to it to make it habitable particularly considering we have a young child but felt we needed to buy something so we owned our home at some stage. GE were the only company who would offer us a mortgage as I wasn’t 3 years trading, hence the interest rate. So we used all our savings on a deposit (€25,000) and stamp etc so when it came to paying for the work we borrowed. I got a loan from Blue with a ridiculously high interest rate as we were desperate and no one else who look at me and then my husband got a loan from Halifax to finish off some things.
Before we bought this house we had rent of €700 and about €2,000 a month to spend as we wished.
Now we have the mortgage, crèche fees and two personal loans we are left just over €700 a month for day to day spending / other household bills (such as oil, phone, esb, food etc) and finding it very difficult to make ends meet.
Also to make matters worse, I borrowed a €3k from my business which needs to be paid back asap as it was only a temp loan.
I need some direction as to how I’m going to get out of this mess………..
Thanks
Sinead
PS – I contacted Blue Loans about refinancing my personal loan with a better interest rate and they cannot do anything until the loan is 6 months old (next month)