I have called on the banks to do this to address their tracker book. However, they probably reckon that there are enough people out there who will sell their home anyway and pay off their mortgage in full. You are in a position to do that on your investment property.
But you are in a great position. You are just not looking at it clearly. You have
We do not shy away from pointing out to people how well off they are if that is what you mean?
- well paying jobs
- €30k in savings
- a cheap tracker on your home and
- a profitable investment.
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I missed this in your post. You are wrong on both counts. The lender doesn't have to take a hit, you do, galling as it is, but you took the risk, not the lender, look at it another way, if it had gone the other way, you would not be on here asking us how you could pay the profits to the bank for the help they gave you in giving you the loan in the first place.
Many people chose not to have kids or limit their families due to economic reasons, including myself (and for a second reason I'm not going into).
I will add in your repayment amount of €321 to post 14 - reminder double check all figures.
I hope I have not offended you with my earlier opinion on having kids and I apologise if I have offended you.
Borrowers including ourselves have to take some of the blame also but all I'm saying is that where both parties are to blame,
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Your second point I don't agree with at all, in your case you took the risk, it was not a shared risk with the bank, you would not have shared the profits if it had succeeded with the bank, you don't seem to understand that even if the bank took the 'hit' with you, it would be in effect other taxpayers, who would be on the hook.
And not for a moment do I believe that the savings are your wife's ! The right thing to do is pay your relatives."
I'd suggest that with baby no.2 on the way, you're time would be better spent sitting down with your wife and deciding what you're going to do to make up the shortfall of 570 that's coming (700 creche - 130 childrens allowance)
I'd also strongly strongly recommend that you discuss money in general, as a couple. The fact that you have separate savings and debt as a married couple suggests to me that you each keep a lot of personal income, and maybe you each keep a good few hundred back for personal expenditure like clothes and entertainment?
If the figures add up today , run with those figures, as trying to guess the future is @ best uncertain.
. We have very good control and records of our finances and regularly assess our situation together..
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