witchymand
Registered User
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- 85
A friend of mine needs advice, so I thought I would post on here for her.
She has a 20 year mortgage which will end in 2011, and is currently paying €480 per month, (€18,000 outstanding).
Also has a credit union loan of €5,000 with shares of €2000.
She wants to take a year off to go travelling with her family, and wants to rent her house out which should get €1,500 per month.
She wants to borrow €35,000 over five years, and wants to pay off her mortgage and credit union loan, which then leaves her with €7K plus she will be getting the rent from her house per month.
What would be the best five year loan recommended - i.e credit union, personal loan from bank etc? Or should we just discuss all this with a broker.
All suggestions gratefully appreciated.
Thanks a million

She has a 20 year mortgage which will end in 2011, and is currently paying €480 per month, (€18,000 outstanding).
Also has a credit union loan of €5,000 with shares of €2000.
She wants to take a year off to go travelling with her family, and wants to rent her house out which should get €1,500 per month.
She wants to borrow €35,000 over five years, and wants to pay off her mortgage and credit union loan, which then leaves her with €7K plus she will be getting the rent from her house per month.
What would be the best five year loan recommended - i.e credit union, personal loan from bank etc? Or should we just discuss all this with a broker.
All suggestions gratefully appreciated.
Thanks a million