Impossible to tell without more comprehensive information about your overall personal and financial circumstances. E.g. do you have any other higher cost debts that should be tackled first? Do you need to boost your pension investments first? Are there other short/medium term demands on your money that should take priority over repaying a low cost mortgage loan?If I have the funds to clear the mortgage
If I have the funds to clear the mortgage in July or August should I do this? Or should I wait until January?
You will have capital gains on the rental as its sold without a mortgage, unless you can show the figures of what you paid for it and sold it for.Hi,
I moved house earlier in the year and took out a new mortgage (€380k with 1 year fixed until next January). I have just gone sale agreed my old house (PPR) and I have also sold a rental property. There is a mortgage on my old PPR which will be cleared and no mortgage on the rental property and no capital gains due.
Once the sale of my old PPR closes I will be in a very lucky position to be able to clear the mortgage on my new PPR.
Originally I fixed for 1 year at 2.6% with Bank of Ireland to give me time to sell the other properties.
If I have the funds to clear the mortgage in July or August should I do this? Or should I wait until January?
Has anyone got out of a fixed rate with BOI? Are the breakage fees reasonable?
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