JohnnyJohnJohns
Registered User
- Messages
- 3
Age:
31
Spouse’s/Partner's age:
32
Annual gross income from employment or profession:
€38,000
Annual gross income spouse:
€43,000
Type of employment:
Both public sector employees on lower end of our scales.
Expenditure pattern:
We are both generally 'savers'
Rough estimate of value of home
€380,000
Mortgage on home
€240,000
Mortgage provider:
UB
Type of mortgage: Tracker, interest only, fixed rate
Variable
Interest rate
Loyalty - 3.1%
Other borrowings – car loans/personal loans etc
None
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
€42,000 in saving account earning about 1%
Do you have a pension scheme?
Yes, I'm on single public service and my wife is on the superannuation pension
Do you own any investment or other property?
No.
Ages of children:
1 x 6 month old
Life insurance:
Yes (Zurich), covers the mortgage.
What specific question do you have or what issues are of concern to you?
Each month we have over €1,000 that goes into savings and I'd like this to work a little harder than 1%. Our options seem to be:
a) savings at a low rate
b) investing in the market (We're both somewhat risk averse)
c) overpaying the mortgage (We both have permanent jobs with increments so this feels like it will take care of itself over time.
Is mortgage overpayment the only game in town or are there alternatives?
Thanks.
31
Spouse’s/Partner's age:
32
Annual gross income from employment or profession:
€38,000
Annual gross income spouse:
€43,000
Type of employment:
Both public sector employees on lower end of our scales.
Expenditure pattern:
We are both generally 'savers'
Rough estimate of value of home
€380,000
Mortgage on home
€240,000
Mortgage provider:
UB
Type of mortgage: Tracker, interest only, fixed rate
Variable
Interest rate
Loyalty - 3.1%
Other borrowings – car loans/personal loans etc
None
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
€42,000 in saving account earning about 1%
Do you have a pension scheme?
Yes, I'm on single public service and my wife is on the superannuation pension
Do you own any investment or other property?
No.
Ages of children:
1 x 6 month old
Life insurance:
Yes (Zurich), covers the mortgage.
What specific question do you have or what issues are of concern to you?
Each month we have over €1,000 that goes into savings and I'd like this to work a little harder than 1%. Our options seem to be:
a) savings at a low rate
b) investing in the market (We're both somewhat risk averse)
c) overpaying the mortgage (We both have permanent jobs with increments so this feels like it will take care of itself over time.
Is mortgage overpayment the only game in town or are there alternatives?
Thanks.