bluepainter
Registered User
- Messages
- 1
Age: 35
Spouse’s/Partner's age: N/A (single)
Annual gross income from employment or profession: €28,000
Monthly take-home pay €2,100 - €2,500 depending on overtime
Type of employment: e.g. Civil Servant, self-employed: PAYE Worker
In general are you: (a) spending more than you earn, or (b) saving? : Saving and paying off debt
Home: I don't own a home and am currently renting at €800 p/m
Other borrowings – car loans/personal loans etc
I have spent the last two years aggressively paying off credit card (3k) and personal loan (10k). Credit card is now cleared and I have €1200 left on the loan which will be paid off over the next 3 months.
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card? €0
Savings and investments: €2,000 emergency fund in BOI savings account
Do you have a pension scheme? No, I will be looking into this over the next few weeks
Do you own any investment or other property? No
Ages of children: none
Life insurance: Insurance through work, not sure of the value
What specific question do you have or what issues are of concern to you?
I have spend the last few years getting my finances under control and paying off a credit card and personal loan that I had kept topping up. I now have the credit card cleared and the loan almost paid off with €1,200 left that will be paid off over the next few months.
I am currently renting and paying €800 per month but with rents dramatically increasing over the last few years I feel it's only a matter of time before I am completely priced out of the rental market. Apartments in the Shannon/Limerick/Ennis area look to be selling for around 125k and BOI's mortage calculator advised I can take a maximum of 98k (3.5x salary) leaving me with approx 30k needed to save for a deposit and stamp duty/fees etc.
I can save a maximum of €600 per month/€7k per year so this will take about 5 years of absolutely no discretionary spending by which time I will be 40.
I am single and likely to remain so.
I would like to ask if there is realistically any way that I can get a mortgage and if not, what other options do I have? Should I have any other financial goals?
Spouse’s/Partner's age: N/A (single)
Annual gross income from employment or profession: €28,000
Monthly take-home pay €2,100 - €2,500 depending on overtime
Type of employment: e.g. Civil Servant, self-employed: PAYE Worker
In general are you: (a) spending more than you earn, or (b) saving? : Saving and paying off debt
Home: I don't own a home and am currently renting at €800 p/m
Other borrowings – car loans/personal loans etc
I have spent the last two years aggressively paying off credit card (3k) and personal loan (10k). Credit card is now cleared and I have €1200 left on the loan which will be paid off over the next 3 months.
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card? €0
Savings and investments: €2,000 emergency fund in BOI savings account
Do you have a pension scheme? No, I will be looking into this over the next few weeks
Do you own any investment or other property? No
Ages of children: none
Life insurance: Insurance through work, not sure of the value
What specific question do you have or what issues are of concern to you?
I have spend the last few years getting my finances under control and paying off a credit card and personal loan that I had kept topping up. I now have the credit card cleared and the loan almost paid off with €1,200 left that will be paid off over the next few months.
I am currently renting and paying €800 per month but with rents dramatically increasing over the last few years I feel it's only a matter of time before I am completely priced out of the rental market. Apartments in the Shannon/Limerick/Ennis area look to be selling for around 125k and BOI's mortage calculator advised I can take a maximum of 98k (3.5x salary) leaving me with approx 30k needed to save for a deposit and stamp duty/fees etc.
I can save a maximum of €600 per month/€7k per year so this will take about 5 years of absolutely no discretionary spending by which time I will be 40.
I am single and likely to remain so.
I would like to ask if there is realistically any way that I can get a mortgage and if not, what other options do I have? Should I have any other financial goals?