Have funds / shares - possibly could be valued at 140,000 todays value plus nest egg of older shares ( about 100K)
Mortgage o/s €320,000 - 24 years, tracker.
Thank you. I dont see lender Ulster Bank agreeing to a new mortgage - no new applications at present accepted etc. But thank you for the information and support.You are effectively borrowing to invest.
This is very risky.
You should pay the lot off the mortgage and reduce it to €80k unless you have a plan for the money e.g. buying a car.
But speak to the lender first to make sure that they agree to issue you a new mortgage at the tracker rate.
Brendan
Oh thank you very much for this 'Landscape' - much appreciated.This is from an email they sent me:
"Ulster Bank Ireland DAC will not accept any new application requests with effect from close of business 29 October 2021. However, there are some exceptions to this change for existing customers.
- Mortgages: we will continue to accept applications from all existing customers for new mortgage lending after close of business 29 October 2021. It is important to understand that, should your mortgage be fully approved and offer letter issued, it will transfer to a new provider in the future. Please contact our mortgage team for support and assistance to enquire about applying on 1890 252 270. Open Monday to Friday 9am-5pm (except bank holidays)."
Legally separated, house in my name, mortgage in both names.
Earn 50K per annum
Have funds / shares - possibly could be valued at 140,000 todays value plus nest egg of older shares ( about 100K)
Mortgage o/s €320,000 - 24 years, tracker.
House value €300,000
Q - if I was to pay off mortgage to bring it to the level of 3.5x my annual income / €171,525 - would bank allow husbands name to be removed easily?
Q - Would this be good use of funds?
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