V
vajra
Guest
Age: 40
Spouse’s/Partner's age: 42
Annual gross income from employment or profession: 60000
Annual gross income of spouse:0 stays at home to mind baby
Type of employment: e.g. Teacher
In general are you spending more than you earn or are you saving? saving approx 1500 per month
Rough estimate of value of home 450000
Amount outstanding on your mortgage: 0
What interest rate are you paying?
Other borrowings – car loans/personal loans etc 0
Do you pay off your full credit card balance each month? yes
If not, what is the balance on your credit card?
Savings and investments: 70000 on deposit
Do you have a pension scheme? I have a teachers pension. but my husband hs none
Do you own any investment or other property? yes rental property worth 220000 with 32000 left on mortgage at 5.6% and eight years left on mortgage
Ages of children: 1 year and hoping to have another
Life insurance: only linked to rental property
What specific question do you have or what issues are of concern to you?
I am getting 5.6% on savings at moment and am tempted to pay off mortgage on rental property. Would this be considered a good idea? I would really appreciate some advice. Thanks
Spouse’s/Partner's age: 42
Annual gross income from employment or profession: 60000
Annual gross income of spouse:0 stays at home to mind baby
Type of employment: e.g. Teacher
In general are you spending more than you earn or are you saving? saving approx 1500 per month
Rough estimate of value of home 450000
Amount outstanding on your mortgage: 0
What interest rate are you paying?
Other borrowings – car loans/personal loans etc 0
Do you pay off your full credit card balance each month? yes
If not, what is the balance on your credit card?
Savings and investments: 70000 on deposit
Do you have a pension scheme? I have a teachers pension. but my husband hs none
Do you own any investment or other property? yes rental property worth 220000 with 32000 left on mortgage at 5.6% and eight years left on mortgage
Ages of children: 1 year and hoping to have another
Life insurance: only linked to rental property
What specific question do you have or what issues are of concern to you?
I am getting 5.6% on savings at moment and am tempted to pay off mortgage on rental property. Would this be considered a good idea? I would really appreciate some advice. Thanks