Myself and my wife have €40,000 as a result of our SSIA's maturing.
We have €95,000 owing over 13 years left on our PPR,and €152,000 outstanding on an investment property on a 2yr fixed interest only mortgage.
We were thinking of investing this €40,000 into reducing the mortgage on our PPR bringing the capital repayment owed to €55,000.
Would this make sound financial sense. We have no outstanding car or credit card loans
We have €95,000 owing over 13 years left on our PPR,and €152,000 outstanding on an investment property on a 2yr fixed interest only mortgage.
We were thinking of investing this €40,000 into reducing the mortgage on our PPR bringing the capital repayment owed to €55,000.
Would this make sound financial sense. We have no outstanding car or credit card loans