Age: 39
Spouse’s/Partner's age: 34
Number and age of children: 1 under 1
Income and expenditure
Annual gross income from employment or profession: ~150K
Annual gross income of spouse: ~100K
Monthly take-home pay: ~€6200 (mine)
Type of employment: e.g. Civil Servant, self-employed
Self-employed (IT contractor)
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving 2/3K a month
Summary of Assets and Liabilities
Family home worth €580k with a €415k mortgage
Cash of €20K
Family home mortgage information
Lender : PTSB
Interest rate: 2.35
If fixed, what is the term remaining of the fixed rate? 4 years
(No need to tell us the monthly repayments or what term is left)
Other borrowings – car loans/personal loans etc
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card?
Buy to let properties
Buy to Let Property to be sold with €100K share
Other savings and investments:
Do you have a pension scheme?
Pension - 160K Zurich directors pension, currently adding 23K per year. Projection of 1.9m fund.
50K in an old PAYE pension
Do you own any investment or other property? No
Other information which might be relevant
Life insurance: No
I have mortgage protection & Income protection insurance
What specific question do you have or what issues are of concern to you?
I will be selling an investment property soon and due to get around 100K in a lump sum. I was planning to put this against our mortgage of 415K
, I'm with PTSB so I believe I can put this against the mortgage, repayments would be the same but interest will be lower and you could use this then if a payment break was needed for some reason.
Any thoughts on this ? Should I be adding more to the pension instead or maybe a separate investment?
Many thanks!
Spouse’s/Partner's age: 34
Number and age of children: 1 under 1
Income and expenditure
Annual gross income from employment or profession: ~150K
Annual gross income of spouse: ~100K
Monthly take-home pay: ~€6200 (mine)
Type of employment: e.g. Civil Servant, self-employed
Self-employed (IT contractor)
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving 2/3K a month
Summary of Assets and Liabilities
Family home worth €580k with a €415k mortgage
Cash of €20K
Family home mortgage information
Lender : PTSB
Interest rate: 2.35
If fixed, what is the term remaining of the fixed rate? 4 years
(No need to tell us the monthly repayments or what term is left)
Other borrowings – car loans/personal loans etc
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card?
Buy to let properties
Buy to Let Property to be sold with €100K share
Other savings and investments:
Do you have a pension scheme?
Pension - 160K Zurich directors pension, currently adding 23K per year. Projection of 1.9m fund.
50K in an old PAYE pension
Do you own any investment or other property? No
Other information which might be relevant
Life insurance: No
I have mortgage protection & Income protection insurance
What specific question do you have or what issues are of concern to you?
I will be selling an investment property soon and due to get around 100K in a lump sum. I was planning to put this against our mortgage of 415K
, I'm with PTSB so I believe I can put this against the mortgage, repayments would be the same but interest will be lower and you could use this then if a payment break was needed for some reason.
Any thoughts on this ? Should I be adding more to the pension instead or maybe a separate investment?
Many thanks!