Salary 1 €68,000 monthly €3500 (after BIK for company car)
Salary 2 €61,500 monthly €3100 (after BIK for VHI)
Both age 35 2 children
Rental property balance €315K current value €220k SVR 4.3% €1664 p/month (KBC Bank) monthly rent €1200 28 years left on mortgage no arrears
Management fees €150 p/month
We did live in this property unfortunately the area went very downhill, drug dealing, unsociable behaviour we had to move out as we had to small kids.
We rented for a while and finally managed to buy a new family home this year with second mortgage before the new rules kicked in.
AIB 3.5% SVR balance €287,000 approx vaule €320k repayment €1250 p/month
Income €3500
Income €3100
Children’s allowance €270
Total €6870
Mortgage rental top up €614 mortgage and management fee
PPR €1250
Crèche €1200
Loan to parents €250 (balance €9000)
BOI loan €170 (balance €5000)
No credit card debit or other loans.
All the other usual housefold bills, insurance, tax, groceries
Obviously we can afford to pay both mortgages. Our new family home is in a lovely location but very small and in desperate need of work and hopefully one day an extension. We both work full time and our children do almost full time hours in crèche thankfully we the help of grandparents they are collected early. We are out of the house each day 8-7pm, I feel so frustrated we are doing this each month and such a big chunk of my money goes to rental property and is essentially down the drain.
I am going to approach KBC to hopefully reduce they payment maybe increase the term, or park some of the capital for a period. I am hoping to get a meeting with them in Jan we have always paid the mortgage no matter how short of cash we are. Any advice on what to ask for?
Salary 2 €61,500 monthly €3100 (after BIK for VHI)
Both age 35 2 children
Rental property balance €315K current value €220k SVR 4.3% €1664 p/month (KBC Bank) monthly rent €1200 28 years left on mortgage no arrears
Management fees €150 p/month
We did live in this property unfortunately the area went very downhill, drug dealing, unsociable behaviour we had to move out as we had to small kids.
We rented for a while and finally managed to buy a new family home this year with second mortgage before the new rules kicked in.
AIB 3.5% SVR balance €287,000 approx vaule €320k repayment €1250 p/month
Income €3500
Income €3100
Children’s allowance €270
Total €6870
Mortgage rental top up €614 mortgage and management fee
PPR €1250
Crèche €1200
Loan to parents €250 (balance €9000)
BOI loan €170 (balance €5000)
No credit card debit or other loans.
All the other usual housefold bills, insurance, tax, groceries
Obviously we can afford to pay both mortgages. Our new family home is in a lovely location but very small and in desperate need of work and hopefully one day an extension. We both work full time and our children do almost full time hours in crèche thankfully we the help of grandparents they are collected early. We are out of the house each day 8-7pm, I feel so frustrated we are doing this each month and such a big chunk of my money goes to rental property and is essentially down the drain.
I am going to approach KBC to hopefully reduce they payment maybe increase the term, or park some of the capital for a period. I am hoping to get a meeting with them in Jan we have always paid the mortgage no matter how short of cash we are. Any advice on what to ask for?