LivingAbroad
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Age: 37
Spouse’s/Partner's age: 37
Annual gross income from employment or profession: 95k
Annual gross income of spouse: 100k
Monthly take-home pay: 10300
Type of employment: Both Civil Servant/Health Service
In general are you:
Saving
Rough estimate of value of home:
No PPR. Renting. See investment property below
Other borrowings – car loans/personal loans etc:
No loans
Expenses:
Childcare (biggest expense) – 1900/month
Rent 1765
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
Cash Savings: 81k
Shares: 10k
Do you have a pension scheme?
Occupational Scheme in health service (approx. 20% mixed employee/employer contribution)
PRSA 100k (inactive)
Previous employer occupational scheme 70k (inactive)
Do you own any investment or other property?
House 1:
350k (Mortgage 225k @ Tracker +1.25%; 20 years left. Bought for 520k).
Rental income (after letting agent fees): 10k/annually
House 2:
480k (Mortgage 300k@Tracker + 1.25%; 20 years left. Bought for 590k)
Rental income (no letting agent fees): 26k/annually
Ages of children:
1, 3, 5
Life insurance:
Death in service with occupational pension
What specific question do you have or what issues are of concern to you?
We are renting in the UK and would like to buy a house.
We’ve ended up moving to the UK for careers and became landlords for two properties in Ireland while now paying rent to live in the UK (2.5 bed house). The Irish properties were Celtic tiger overvalued purchases that have not regained their value (so avoiding CGT issues) with only one of them having a good rental yield. If we did end up in Ireland, we wouldn't like to live in either property (location, size amenities).
We have a minimum 5-year timeframe in the UK - perhaps longer. There is uncertainty with Brexit etc. but currently mortgage interest rates are low in the UK.
We would like to buy a house but are constrained by having a limited amount for a deposit, and hit with extra stamp duty (approx. 44k as a non-first time buyer – Irish property is taken into consideration).[House prices (4 bed) locally approx. 690k]
Does it make sense to sell one of the Irish properties (diversify and free up deposit money) or continue to save for a deposit and keep the Irish properties (e.g. tracker, future capital gain etc.)?
Note - I’ve converted all figures to euro.
Spouse’s/Partner's age: 37
Annual gross income from employment or profession: 95k
Annual gross income of spouse: 100k
Monthly take-home pay: 10300
Type of employment: Both Civil Servant/Health Service
In general are you:
Saving
Rough estimate of value of home:
No PPR. Renting. See investment property below
Other borrowings – car loans/personal loans etc:
No loans
Expenses:
Childcare (biggest expense) – 1900/month
Rent 1765
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
Cash Savings: 81k
Shares: 10k
Do you have a pension scheme?
Occupational Scheme in health service (approx. 20% mixed employee/employer contribution)
PRSA 100k (inactive)
Previous employer occupational scheme 70k (inactive)
Do you own any investment or other property?
House 1:
350k (Mortgage 225k @ Tracker +1.25%; 20 years left. Bought for 520k).
Rental income (after letting agent fees): 10k/annually
House 2:
480k (Mortgage 300k@Tracker + 1.25%; 20 years left. Bought for 590k)
Rental income (no letting agent fees): 26k/annually
Ages of children:
1, 3, 5
Life insurance:
Death in service with occupational pension
What specific question do you have or what issues are of concern to you?
We are renting in the UK and would like to buy a house.
We’ve ended up moving to the UK for careers and became landlords for two properties in Ireland while now paying rent to live in the UK (2.5 bed house). The Irish properties were Celtic tiger overvalued purchases that have not regained their value (so avoiding CGT issues) with only one of them having a good rental yield. If we did end up in Ireland, we wouldn't like to live in either property (location, size amenities).
We have a minimum 5-year timeframe in the UK - perhaps longer. There is uncertainty with Brexit etc. but currently mortgage interest rates are low in the UK.
We would like to buy a house but are constrained by having a limited amount for a deposit, and hit with extra stamp duty (approx. 44k as a non-first time buyer – Irish property is taken into consideration).[House prices (4 bed) locally approx. 690k]
Does it make sense to sell one of the Irish properties (diversify and free up deposit money) or continue to save for a deposit and keep the Irish properties (e.g. tracker, future capital gain etc.)?
Note - I’ve converted all figures to euro.
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