Hi folks,
first timer, so your patience is appreciated.
I purchased a site from the City Corporation & by way of shared ownership, built my house 14 yrs ago.
Having €21000 SSIA lump sum now, I'm looking to reduce my mortgage/shared ownership.
€13000 - Mortgage with City Corporation @ 4.5%
€20000 - Shared ownership (equity held by the Corporation, who I've been onto to establish by how much this grows, but they could not tell me... CPI index & 'some' formula which they will send to me)
€230pm on the Mortgage
€75pm on the shared ownership
I am looking for advice as to how best use the SSIA
(1) all on the sharedownership
(2) clear the mortgage & half the shared ownership
(3) other?
Your comments are welcome.
Rgds,.
first timer, so your patience is appreciated.
I purchased a site from the City Corporation & by way of shared ownership, built my house 14 yrs ago.
Having €21000 SSIA lump sum now, I'm looking to reduce my mortgage/shared ownership.
€13000 - Mortgage with City Corporation @ 4.5%
€20000 - Shared ownership (equity held by the Corporation, who I've been onto to establish by how much this grows, but they could not tell me... CPI index & 'some' formula which they will send to me)
€230pm on the Mortgage
€75pm on the shared ownership
I am looking for advice as to how best use the SSIA
(1) all on the sharedownership
(2) clear the mortgage & half the shared ownership
(3) other?
Your comments are welcome.
Rgds,.