Pinkpanter
Registered User
- Messages
- 78
. I was thinking of reducing the term of our mortgage from 31 to 25 years. Hubby good at paying loans but not saving. .
Age: 30
Spouse’s/Partner's age: 31
Annual gross income from employment or profession:48k civil servant (2400p/m)
Annual gross income of spouse:70k private sector (3900p/m)
In general are you:
(a) spending more than you earn, or
(b) saving?
I tend to be a saver, husband a spender!!
Rough estimate of value of home 250k
Amount outstanding on your mortgage: 463k (mortgage 515k)
What interest rate are you paying? 2.15% tracker 31 years left
1700 per month
Other borrowings – car loans/personal loans etc
car loan 340 per month
Do you pay off your full credit card balance each month?
If not, what is the balance on your credit card?
Husband has 1500 balance
Savings and investments:
8000 in aib (online saver)
Do you have a pension scheme?
both have defined benefit. also AVC's (me 200 p/m, husband 350p/m).
Do you own any investment or other property?
yes I have investment property bought 2004 (174K) balance 145k 18 years rent 550p/m mortgage 930 p/m).
Ages of children: none
Life insurance: yes mortgage cover.
Question we are in negative equity on our apartment. We will have some excess cash before we have children. How should we proceed. Put cash on deposit with bank or pay down mortgage. Would love to be in a position to move to a house not urgent (3bed apartment in central location near work and family).
Can probably stay in apartment for 10 years or so. Is it possible to raise a family in a 1000 sq/ft apartment?
Reluctant to pay down mortgage with such a good tracker mortgage (0.9% above ecb). Any suggestions to put us on more secure financial footing.
We were hoping to buy again in the future but realise our ages will be against us.
We were hoping to keep the apartment and sell the mortgage free house to use as deposit (circa 150k presently).
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?