We have a mortgage of €295,000 on a second home which we use a lot. We are lucky to have a tracker of ECB + .9%. We have substantial savings (in excess of €120,000) and no other debt. Our repayments should be €1520 per calander month but for the past 2 years we have been paying half the monthly amount every 14 days plus an overpayment of €250 each time - so essentially an overpayment of approx €7500 per annum. This is working for us but I guess my question is should we be doing this? I know the arguments for putting the money in a higher interest rate account but by the time DIRT is taken into account the benefit of that is negligible...We have a teenager and a pre-teen child so college fees etc.. will be very much on our minds in 3 or 4 years time...I should add that because the mortgage is not for a principal residence we do not qualify for Mortgage Interest Tax Relief (or so I have been told by Revenue).