Niall-1980
Registered User
- Messages
- 40
I bought a 4 bed house last November for €135,000. I had €67,500 in savings and I took out a 10 year mortgage with PTSB last November.
I borrowed €67,500 and got it on a 3.75% 5 year fixed breaking out to variable after the 5 years.
Myself and the wife currently have €17,000 in savings and are expecting our first child in 2 months time. We are expecting that she will not work for a few years and take care of the child.
I take home roughly €2,500 a month currently and we are comfortable.
My question do you think I should save like hell for the next 4 years and use ll my savings to clear the mortgage when it comes out of the 5 year fixed stage.
I am 33 and my wife is 28 and our future plans are to have one more child asap after the first.
Should I save hard for the 4 years or enjoy life and keep paying the mortgage for the remaining 9 even with maybe high variable rates?
I borrowed €67,500 and got it on a 3.75% 5 year fixed breaking out to variable after the 5 years.
Myself and the wife currently have €17,000 in savings and are expecting our first child in 2 months time. We are expecting that she will not work for a few years and take care of the child.
I take home roughly €2,500 a month currently and we are comfortable.
My question do you think I should save like hell for the next 4 years and use ll my savings to clear the mortgage when it comes out of the 5 year fixed stage.
I am 33 and my wife is 28 and our future plans are to have one more child asap after the first.
Should I save hard for the 4 years or enjoy life and keep paying the mortgage for the remaining 9 even with maybe high variable rates?