T
The Schill
Guest
Age:
25
Spouse’s/Partner's age:
n/a
Annual gross income from employment or profession:
€49,500
Net monthly income:
€3,950
Monthly fixed outgoings: ie elec gas telephone sky insurance cc minimum payments etc
€0
Type of employment:
private sector
Expenditure pattern:
Saver
Rough estimate of value of home
n/a
Other borrowings – car loans/personal loans etc
nil
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
Investment Fund - €18,000
Shares - €4,500 (company to be sold so this will be liquid soon)
Current Account - €6,000 (saved from Jan this year)
Do you have a pension scheme?
Yes - employer 7% / self 5%
Do you own any investment or other property?
No.
Ages of children:
None.
Life insurance:
No
What specific question do you have or what issues are of concern to you?
OK so I think I'm in decent financial shape and am looking to take the next step. I have the opportunity to buy a house from an elderly family member. The conservative value of it is €500,000 currently. In a great area with room to biuld on etc. It is certainly a place I can see myself for a long time. I am considering a mortgage of ca. €250,000 combined with €20,000 of my savings.
Questions: should I consider a mortgage at my age?
I haven't done the whole year off travelling thing. It is something I want to do soon, although will be broken up into 1 or 2 3 month periods off work. I may also have the chance to work abroad in the near future which I would like to accept, again not ideal with a mortgage.
I am thoroughly enjoying life at the moment, I can go out when I want (which isn't too often), I make the most of my free time with my friends and am also taking further study to improve myself.
Would someone approve me for a mortgage of €250,000 over say 30 years? If not what can I realistically expect? Does it qualify for a LTV mortgage?
As the family member is elderly, I would like to do this ASAP as who knows what is around the corner and if the worst did happen, some of the reamining family members may (or would, in fact) not be positive about this move.
Also, if anyone has any additional investment advice for me. I will be cashing out the €18,000 to reinvest, my thoughts are leaning towards more shares, but I need to know I can leave this money for the medium term before taking action, ie not spending it towards home!
25
Spouse’s/Partner's age:
n/a
Annual gross income from employment or profession:
€49,500
Net monthly income:
€3,950
Monthly fixed outgoings: ie elec gas telephone sky insurance cc minimum payments etc
€0
Type of employment:
private sector
Expenditure pattern:
Saver
Rough estimate of value of home
n/a
Other borrowings – car loans/personal loans etc
nil
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
Investment Fund - €18,000
Shares - €4,500 (company to be sold so this will be liquid soon)
Current Account - €6,000 (saved from Jan this year)
Do you have a pension scheme?
Yes - employer 7% / self 5%
Do you own any investment or other property?
No.
Ages of children:
None.
Life insurance:
No
What specific question do you have or what issues are of concern to you?
OK so I think I'm in decent financial shape and am looking to take the next step. I have the opportunity to buy a house from an elderly family member. The conservative value of it is €500,000 currently. In a great area with room to biuld on etc. It is certainly a place I can see myself for a long time. I am considering a mortgage of ca. €250,000 combined with €20,000 of my savings.
Questions: should I consider a mortgage at my age?
I haven't done the whole year off travelling thing. It is something I want to do soon, although will be broken up into 1 or 2 3 month periods off work. I may also have the chance to work abroad in the near future which I would like to accept, again not ideal with a mortgage.
I am thoroughly enjoying life at the moment, I can go out when I want (which isn't too often), I make the most of my free time with my friends and am also taking further study to improve myself.
Would someone approve me for a mortgage of €250,000 over say 30 years? If not what can I realistically expect? Does it qualify for a LTV mortgage?
As the family member is elderly, I would like to do this ASAP as who knows what is around the corner and if the worst did happen, some of the reamining family members may (or would, in fact) not be positive about this move.
Also, if anyone has any additional investment advice for me. I will be cashing out the €18,000 to reinvest, my thoughts are leaning towards more shares, but I need to know I can leave this money for the medium term before taking action, ie not spending it towards home!