Trading up

rania

Registered User
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84
Age:40
Spouse’s/Partner's age:42

Annual gross income from employment or profession:0
Annual gross income of spouse:192000

Monthly take-home pay 7400

Type of employment: e.g. Civil Servant, self-employed
Public c servant
In general are you:
(a) spending more than you earn, or
(b) saving?
SAVING
Rough estimate of value of HOME 230K
Amount outstanding on your mortgage:200K
What interest rate are you paying?1.6

Other borrowings – car loans/personal loans 0
0

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:
155K SAVINGS
35K EDUCATION FUND

Do you have a pension scheme?YES WORK

Do you own any investment or other property?YES APT NOT ABLE TO SELL CURRENTLY OCCUPIED BY FAMILY
ESTIMATE 10YEARS UNTIL SALE VALUE CIRCA 300K
Ages of children:3,9,11,12

Life insurance:THROUGH JOB AND MORTGAGE


What specific question do you have or what issues are of concern to you?
we want to trade up, we are comfortable with monthly repayments of 2100,but the house market is gone crazy here and we have been outbid multiple times, now looking at 2600 to 2800 a month can we afford this comfortably. I am concerned if we don't sell now we will be stuck with our current property as it was in negative equity for over 10 years and I fear that will happen again. I'm not sure if the houses will come back to a more normal price any time soon
 
Are the income figures correct? A Public Servant on €192,000 at the age of 42 is unusual.
A take home pay of €88,800 from a gross income of €192,000 with a double tax free allowance also seems strange. Even with a pension levy you should be taking home more than that.
 
Net is 3722 every 2 weeks. Gross is 7647.deductions are 3924
 
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