Age:
27
Spouse’s/Partner's age:
28
Annual gross income from employment or profession:
E40,000
Annual gross income spouse:
E45,000
Type of employment:
Both Public sector employees
Expenditure pattern:
She is a saver. I am not. She will be getting control of the majority of my finances next year to the benefit of both of us.
Rough estimate of value of home
E325,000
Mortgage on home
E177,000 - we've been paying our mortgage for 26 months now. (about 980Pm)
Mortgage provider:
PTSB
Type of mortgage: Tracker, interest only, fixed rate
Tracker
Interest rate
4.95% .
Other borrowings – car loans/personal loans etc
(Mine)Car Loan: €9000 (450 per month) Credit Union loan at 6.5%
(Mine)Credit Card MBNA €2500 (Currently working on paying this off)
Do you pay off your full credit card balance each month?
No-but pay what I can afford which varies wildly from month to month.
Savings and investments:
Me:
€5000 in credit union (currently putting away 450 per month for wedding next year)
Her:
€4000 in savings account (also putting away about 450 per month for wedding.)
€2500 in Rabo investment accounts.
Do you have a pension scheme?
Yes, we are both paying into government pension schemes.
Do you own any investment or other property?
No.
Ages of children:
None.
Life insurance:
Yes.
What specific question do you have or what issues are of concern to you?
Right, we are getting married next year and will probably end up paying circa 17K for the wedding. She has just bought a new car with about 12K of her savings.
We currently own a 4 bed and could conservatively get rent of €1000 pm if we were to move out.
We have a site in her home town and are thinking of building on it. This process should begin after the wedding.
I should have all my debts paid of in the middle of next year but am working to push this forward.
Would people agree that based on our current situation continuing we would be in a decent position in 15 months to begin servicing another mortgage or 250-300 for our primary residential home on the site?
Thanks for any advise, if more information is needed please let me know.
27
Spouse’s/Partner's age:
28
Annual gross income from employment or profession:
E40,000
Annual gross income spouse:
E45,000
Type of employment:
Both Public sector employees
Expenditure pattern:
She is a saver. I am not. She will be getting control of the majority of my finances next year to the benefit of both of us.
Rough estimate of value of home
E325,000
Mortgage on home
E177,000 - we've been paying our mortgage for 26 months now. (about 980Pm)
Mortgage provider:
PTSB
Type of mortgage: Tracker, interest only, fixed rate
Tracker
Interest rate
4.95% .
Other borrowings – car loans/personal loans etc
(Mine)Car Loan: €9000 (450 per month) Credit Union loan at 6.5%
(Mine)Credit Card MBNA €2500 (Currently working on paying this off)
Do you pay off your full credit card balance each month?
No-but pay what I can afford which varies wildly from month to month.
Savings and investments:
Me:
€5000 in credit union (currently putting away 450 per month for wedding next year)
Her:
€4000 in savings account (also putting away about 450 per month for wedding.)
€2500 in Rabo investment accounts.
Do you have a pension scheme?
Yes, we are both paying into government pension schemes.
Do you own any investment or other property?
No.
Ages of children:
None.
Life insurance:
Yes.
What specific question do you have or what issues are of concern to you?
Right, we are getting married next year and will probably end up paying circa 17K for the wedding. She has just bought a new car with about 12K of her savings.
We currently own a 4 bed and could conservatively get rent of €1000 pm if we were to move out.
We have a site in her home town and are thinking of building on it. This process should begin after the wedding.
I should have all my debts paid of in the middle of next year but am working to push this forward.
Would people agree that based on our current situation continuing we would be in a decent position in 15 months to begin servicing another mortgage or 250-300 for our primary residential home on the site?
Thanks for any advise, if more information is needed please let me know.