Pay mortgage off investment property?

[kafer]

Hi,

Have an investment property with 6 years left on the mortgage before it is cleared. Approximately 35K left on it. This is on a tracker rate of 1.9%

Rental income is 600 pm and mortgage is 470 pm including capital and interest payments. I only receive about 600 euro a year relief on the mortgage interest (@75%)

I have the funds in place to pay off this mortgage but is it the right thing to do? Putting th money on deposit will yield me over 3% less DIRT.

Thanks in advance.

 

[Brendan Burgess]

check the Key posts where this is discussed at length.