Age:42
Spouse’s/Partner's age: 35
Annual gross income from employment or profession: €0 - Self Employed
Annual gross income of spouse: €50,000 - Public Servant
In general are you:
(a) spending more than you earn? no
(b) saving? 300p/m
Rough estimate of value of home bought 2006 = €150,000
Amount outstanding on your mortgage: €190,000 @Var 2.63% Repay:€666(30 years remaining) Claiming tax relief (TRS)
Other borrowings –
Credit Union home improvement loan €34,000 @6.5%, 500p/m
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:
£20,000 Sterling in a current account with UK Bank
€300p/m to Credit Union
Do you have a pension scheme?
€20,000 in personal pension sheme
€20,000 in a previous employer scheme. Not defined benefit
Spouse, Public Servant pension
Do you own any investment or other property?
Ireland Bought 2007 (30 years remaining)
Value €250K Morgage €295K Var:2.74% Repay:€1287 Rent:€775
England Bought 1998 (28years remaining)
Value £180K Morgage £100K Var:1.97% Repay:£150 Rent:£750
France Bought 2001 (6 years remaining)
Value €200 Morgage €121K Fixed: 5.2% Repay:€980 Rent:€900
Ages of children: 0
Life insurance: With morgages only
What specific question do you have or what issues are of concern to you?
At the moment I am self employed but bringing in very little at the moment due to collapse in ecconomy. I am setting up a new business which will not need huge capital but would not expect great income for the first six months.
We are ok at the moment but we want to prepare for increases in interest rates and use savings efficiently. Once my income comes back we will be ok but until then we were thinking of putting UK savings and Irish savings to the Credit Union loan and get rid of this asap.
I don't have a huge pension so the properties are ideally for that.
1. What other areas could we save in the short tem?
I am open to any solutions, the above are just my own initial ideas...
Spouse’s/Partner's age: 35
Annual gross income from employment or profession: €0 - Self Employed
Annual gross income of spouse: €50,000 - Public Servant
In general are you:
(a) spending more than you earn? no
(b) saving? 300p/m
Rough estimate of value of home bought 2006 = €150,000
Amount outstanding on your mortgage: €190,000 @Var 2.63% Repay:€666(30 years remaining) Claiming tax relief (TRS)
Other borrowings –
Credit Union home improvement loan €34,000 @6.5%, 500p/m
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:
£20,000 Sterling in a current account with UK Bank
€300p/m to Credit Union
Do you have a pension scheme?
€20,000 in personal pension sheme
€20,000 in a previous employer scheme. Not defined benefit
Spouse, Public Servant pension
Do you own any investment or other property?
Ireland Bought 2007 (30 years remaining)
Value €250K Morgage €295K Var:2.74% Repay:€1287 Rent:€775
England Bought 1998 (28years remaining)
Value £180K Morgage £100K Var:1.97% Repay:£150 Rent:£750
France Bought 2001 (6 years remaining)
Value €200 Morgage €121K Fixed: 5.2% Repay:€980 Rent:€900
Ages of children: 0
Life insurance: With morgages only
What specific question do you have or what issues are of concern to you?
At the moment I am self employed but bringing in very little at the moment due to collapse in ecconomy. I am setting up a new business which will not need huge capital but would not expect great income for the first six months.
We are ok at the moment but we want to prepare for increases in interest rates and use savings efficiently. Once my income comes back we will be ok but until then we were thinking of putting UK savings and Irish savings to the Credit Union loan and get rid of this asap.
I don't have a huge pension so the properties are ideally for that.
1. What other areas could we save in the short tem?
- Current Home was bought by my wife before we got married. If we move to investment property (in joint name) in Ireland and rent out present home would we be able to claim greater tax-relief there ?
- Morgage not sure If we can make any savings ?
- I assume I cannot claim Job seekers allowance (if I am means tested) ? Should I be signing on anyway? what the advantage?
- Can I take out the money I paid into previous company pension scheme?
I am open to any solutions, the above are just my own initial ideas...
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