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Total mortgage/insurance etc costs

  • 03-02-2006 8:57pm
    #1
    sillysocks
    Registered Users, Registered Users 2 Posts: 2,644 ✭✭✭


    Hi All,

    This may not be the correct board for this so feel free to move it.

    I'm thinking of taking the plunge and buying my first house with my boyfriend. We are hoping to buy somewhere for approx 210k and are trying to work out what the total costs would be to us per month. We are hoping to see a mortgage broker/bank next week but are just looking for ideas here....
    Can anyone give us an idea of what we could expect to pay , all in per month?

    It looks like the mortgage itself would be 800-900 per month, but we're trying to figure out how much we could expect to have to pay on house insurance/mortgage protection/life assurance? Just rough quotes would be great!
    The house is a 3 bed terraced house, would be just us living in it (ie no tenants) and in Waterford.

    Thanks!


Comments

  • #2
    antoinolachtnai
    Registered Users, Registered Users 2 Posts: 9,815 ✭✭✭antoinolachtnai


    house insurance: check www.123.ie. About 300 or 400 euros/year, I guess. Depends on your age, house and contents value and how crazy your general area is supposed to be.

    life assurance on 200k: depends on what age you guys are and how hard you live. Maybe 100 a month? It depends, worth shopping around. mortgage protection? Never got that.


  • #3
    sillysocks
    Registered Users, Registered Users 2 Posts: 2,644 ✭✭✭sillysocks


    Thanks Antoinolachnai. Thought of those details after I had posted....
    antoinolachtnai wrote:
    house insurance: check www.123.ie. About 300 or 400 euros/year, I guess. Depends on your age, house and contents value and how crazy your general area is supposed to be.

    General area would be good where we are hoping to buy, house value is 210k (well thats what we're paying), contents wouldn't be much to start with just very much the basics and we're both 25.
    antoinolachtnai wrote:
    mortgage protection? Never got that.

    Do you not have to get mortgage protection? Is it that the life assurance covers in case of death so the mortgage protection would only be for loss of income due to injury, illness etc?


  • #4
    chuckles30
    Registered Users, Registered Users 2 Posts: 1,380 ✭✭✭chuckles30


    Going through the process myself at the moment. Life assurance & house insurance are required. You can get different levels of life cover. You can just get the basic mortgage cover which will pay off the house in the event of death. You can get an increase level that will pay of the mortgage in the event of you getting a serious illness & then the highest level also pays money into your estate as well as paying off the mortgage, so I guess it depends on what you want. As already suggested 123.ie is a good place to price this as you can play with the different options.
    The mortgage repayment protection is optional but in my opinion a good idea, but then the company where I work have had a couple of rounds of redundancies down through the years and I've seen some worried people who didn't have it and others who did have it had one less worry. Also it does cover you in the event of illness or injury.


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