Repayments have increased €320 over last year. Would appreciate any advice and guidance.
Income details
Net monthly 5125.80
Net monthly 4845.80
Amount of child benefit received €280
Amount of Mortgage Interest Supplement received 0
Personal circumstances so we can calculate your reasonable living expenses
The Insolvency Service has published Guidelines for Reasonable Living Expenses based on the family size, whether or not you need a car for work, childcare costs and other exceptional circumstances. By filling in this information, we (or you ) can calculate what your reasonable monthly living expenses should be.
Two adults & 2 C
Do you need a car for work or do you use public transport? Cars x2
Number of 4 - 11 years old: 1
Number of 12 - 18 years old: 1
Monthly childcare costs: 200
Monthly spend on special circumstances: e.g. exceptional healthcare costs - 300
Home loan
Lender: Pepper
Amount outstanding: €261 K
Value of home: €300K
Interest rate: specify whether tracker or SVR or fixed rate 1. ECB + 6.25% 2. 7.30%
Monthly repayment 1219.30
Amount in arrears 0
Summary of discussions and agreements with the banke.g. in Marp Warehouse Mortgage since Jan 2019 No missed payments
Credit Union
Amount of shares 0
Amount of loan outstanding 13083.86
Monthly repayment 354
Term left 4 years
Other loans and creditors - delete those which don't apply to you
Family loan - 2500
Family loan - Paused repayment
How important is retaining the family home to you?
I really want to keep the family home even if it means having a large mortgage and negative equity for years to come.
What is your preferred realistic outcome?
All help and advice welcome.