Personal and income details
Net (i.e. after tax) Income self: 2400e/month
Income history: private sector
Net income partner/spouse: 814e/month (JSB)
Income history: made redundant in march 2013
number of children: 1 + second due November
Amount of Mortgage Interest Supplement received: 0
Home loan
Lender: PTSB
Amount outstanding: 218k (29 years left)
Value of home: around 70-80k (one bed apartment)
Interest rate: tracker 2.25% + ECB
Monthly repayment: 760e
Amount in arrears: 0
Because no in arrears I have not approached to bank yet.
Other loans and creditors
Maintenance fees: 3k
Other savings
25k
How important is retaining the family home to you?
I don't care about keeping the family home.
What is your preferred realistic outcome?
We bought that one bed apartment for asking price 260k in 2007. 21k paid from savings. Because second child due now it will be to small for us. I am Polish and also consider come back to Poland.
What other options are there for us?
I consider to make an offer to clear it. Do you think they would accept an offer 25k (my savings), for the amount outstanding and sell apartment?
We have to move out before November as apartment is very small or even come back to Poland. I do not know yet what we will do.
Thanks for any advise
Net (i.e. after tax) Income self: 2400e/month
Income history: private sector
Net income partner/spouse: 814e/month (JSB)
Income history: made redundant in march 2013
number of children: 1 + second due November
Amount of Mortgage Interest Supplement received: 0
Home loan
Lender: PTSB
Amount outstanding: 218k (29 years left)
Value of home: around 70-80k (one bed apartment)
Interest rate: tracker 2.25% + ECB
Monthly repayment: 760e
Amount in arrears: 0
Because no in arrears I have not approached to bank yet.
Other loans and creditors
Maintenance fees: 3k
Other savings
25k
How important is retaining the family home to you?
I don't care about keeping the family home.
What is your preferred realistic outcome?
We bought that one bed apartment for asking price 260k in 2007. 21k paid from savings. Because second child due now it will be to small for us. I am Polish and also consider come back to Poland.
What other options are there for us?
I consider to make an offer to clear it. Do you think they would accept an offer 25k (my savings), for the amount outstanding and sell apartment?
We have to move out before November as apartment is very small or even come back to Poland. I do not know yet what we will do.
Thanks for any advise