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Overborrowed

  • 03-01-2014 5:26pm
    #1
    GER82
    Registered Users, Registered Users 2 Posts: 34 ✭


    Hello.
    I am beginning to question whether I have a mortgage that is not sustainable to pay off. We have €235k remaining on out mortgage and we are 1 year into it. We have a combined salary of €90,000. We are both in permanent jobs . However, with water and property tax coming down the line, was it was to get the mortgage of this size? Is it a large or small mortgage for Dublin standards . Interested to see what people think
    Thanks.


Comments

  • #2
    murphaph
    Registered Users, Registered Users 2 Posts: 19,050 ✭✭✭✭murphaph


    If you can afford the repayments then it's sustainable. I think it's a very sustainable mortgage at first glance.


  • #3
    NIMAN
    Registered Users, Registered Users 2 Posts: 34,694 ✭✭✭✭NIMAN


    Mortgage just over 2.5 times your salaries. Sounds sustainable to me.

    As for the size of it, well it would be big for where I live, but for Dublin it sounds like a relatively small one. Plus if we are to believe the media reports, you own a property in a place which has fast rising house prices, so you may well be sitting on an decent investment, as long as its in the right area.


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