N
nochain2
Guest
Age: 38
Spouse’s/Partner's age: 35
Annual gross income from employment or profession: 60k
Annual gross income of spouse:30k
Type of employment: e.g. Civil Servant,
me: self-employed
spouse: civil servant.
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving
Rough estimate of value of home Currently Renting
Amount outstanding on your mortgage: 0
What interest rate are you paying? 0
Other borrowings – car loans/personal loans etc
None.
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card? 0
Savings and investments:
300k cash for house purchase.
35k cash rainy day fund.
500 euro pm to Quinn life index funds, current value 25k.
Do you have a pension scheme? Me No, spouse yes.
Do you own any investment or other property? No
Ages of children: 1,3,5
Life insurance: spouse yes. me no.
What specific question do you have
Wanted some advice please on options for a new mortgage.
We are about to purchase a house for 450k. we have 300k to put to it which would leave us with a 172k mortgage after stamp duty and other costs, (5k added for painting carpet and some new furniture)
We have been offered 4.6 % APR Fixed for 10 years. on a 172k mortgage over 25 years.
I was considering cashing the shares, reducing the loan and the term keeping repayments the same. The original plan for the shares had been pension for me / kids education.
Any opinions ?
Mnay thanks.
Spouse’s/Partner's age: 35
Annual gross income from employment or profession: 60k
Annual gross income of spouse:30k
Type of employment: e.g. Civil Servant,
me: self-employed
spouse: civil servant.
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving
Rough estimate of value of home Currently Renting
Amount outstanding on your mortgage: 0
What interest rate are you paying? 0
Other borrowings – car loans/personal loans etc
None.
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card? 0
Savings and investments:
300k cash for house purchase.
35k cash rainy day fund.
500 euro pm to Quinn life index funds, current value 25k.
Do you have a pension scheme? Me No, spouse yes.
Do you own any investment or other property? No
Ages of children: 1,3,5
Life insurance: spouse yes. me no.
What specific question do you have
Wanted some advice please on options for a new mortgage.
We are about to purchase a house for 450k. we have 300k to put to it which would leave us with a 172k mortgage after stamp duty and other costs, (5k added for painting carpet and some new furniture)
We have been offered 4.6 % APR Fixed for 10 years. on a 172k mortgage over 25 years.
I was considering cashing the shares, reducing the loan and the term keeping repayments the same. The original plan for the shares had been pension for me / kids education.
Any opinions ?
Mnay thanks.