S
spottydog
Guest
Age: 37
Spouse’s/Partner's age: 37
Annual gross income from employment or profession:45000
Annual gross income of spouse:JSA 200 per week
Type of employment: e.g. Civil Servant, self-employed
Private sector, full time
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving, trying not to spend more than we take in
Rough estimate of value of home 230000
Amount outstanding on your mortgage: 214000
What interest rate are you paying? Tracker ECB + .8%
Other borrowings – car loans/personal loans etc NONE!
Do you pay off your full credit card balance each month? Getting there
If not, what is the balance on your credit card? 1500
Savings and investments:
€6000
Do you have a pension scheme? yes
Do you own any investment or other property? no
Ages of children: 3 + 1
Life insurance: yes
Other costs - P/T creche costs 427 pm.
What specific question do you have or what issues are of concern to you?
I have been trying the last couple of years to get as debt free as possible, thanks to a cheque from the Revenue we finished paying off the car loan. We still owe a bit on a cc but getting that down asap. We have really turned our spending habits around and we have a budget that works for us. My OH is out of work at the moment so there is no question of getting a mortgage at the moment.
We would like to trade up sooner rather than later so what would we need to do to get into a position to be able to do it? If we get into negative equatity is that the end of a trade up? are the banks expecting us to have 1000s put away before they will consider us?
Also I would like to upgrade the car but the one we have will do. So do we just drive it until it falls apart or is it a good time to trade in? It would mean anther loan.
I guess I just want other people to review the situation and give their opinion.
Spouse’s/Partner's age: 37
Annual gross income from employment or profession:45000
Annual gross income of spouse:JSA 200 per week
Type of employment: e.g. Civil Servant, self-employed
Private sector, full time
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving, trying not to spend more than we take in
Rough estimate of value of home 230000
Amount outstanding on your mortgage: 214000
What interest rate are you paying? Tracker ECB + .8%
Other borrowings – car loans/personal loans etc NONE!
Do you pay off your full credit card balance each month? Getting there
If not, what is the balance on your credit card? 1500
Savings and investments:
€6000
Do you have a pension scheme? yes
Do you own any investment or other property? no
Ages of children: 3 + 1
Life insurance: yes
Other costs - P/T creche costs 427 pm.
What specific question do you have or what issues are of concern to you?
I have been trying the last couple of years to get as debt free as possible, thanks to a cheque from the Revenue we finished paying off the car loan. We still owe a bit on a cc but getting that down asap. We have really turned our spending habits around and we have a budget that works for us. My OH is out of work at the moment so there is no question of getting a mortgage at the moment.
We would like to trade up sooner rather than later so what would we need to do to get into a position to be able to do it? If we get into negative equatity is that the end of a trade up? are the banks expecting us to have 1000s put away before they will consider us?
Also I would like to upgrade the car but the one we have will do. So do we just drive it until it falls apart or is it a good time to trade in? It would mean anther loan.
I guess I just want other people to review the situation and give their opinion.