My wife is in the process of taking voluntary redundancy from her job of 13 years in Dublin.
the question we have is our 20 year endowment mortgage of €73,644 still has 6 years to maturity. The current monthly premiums are €220 interest and €155 endowment policy, total €375.
We have a lump sum of €100,000 available. (SSIA & Reducndancy)
Would we be better to pay off the mortgage and be debt free (still maintaining the endowment premium of €155) or could the money be put to better use?"
Hope the question is clear enough.