Financial Details
Mortgage -
Mortgage Interest Rate – Tracker =.75% with AIB
Current Monthly Amount - €600
Borrowed €227,700 Feb 2007 (over paid for a number of years)
Outstanding €175,000
Current Value – Approx. €155,000 - €160,000
Incomings & Outgoings
Salary 1 - €41k
Salary 2 - €27k (part time)
Monthly Take Home - €3925
Children – 2, no child care costs
Savings – €60k
What are our options?
1.
Mortgage -
Mortgage Interest Rate – Tracker =.75% with AIB
Current Monthly Amount - €600
Borrowed €227,700 Feb 2007 (over paid for a number of years)
Outstanding €175,000
Current Value – Approx. €155,000 - €160,000
Incomings & Outgoings
Salary 1 - €41k
Salary 2 - €27k (part time)
Monthly Take Home - €3925
Children – 2, no child care costs
Savings – €60k
What are our options?
1.
- Keep our apartment and rent out. Rents stable in the area and would secure approx. €1100 per montn
- Hoping to buy a new family home for €300k, using our €60k as a deposit. Is this an option? New mortgage would be €240k.
- Negative equity/tracker mover mortgage. Sell apartment and take negative equity approx. €15k with us to new property and say good bye to apartment?