I'm sorry, this is another NE question...or rather a call for general advice.
We own a house in the south inner city, purchased for €380k with €310k remaining on the mortgage over another 25years. House wuold probably be valued at €150k now. We are on a tracker of ECB +.95 and current repayments are €1100 and we overpay every month by €200. we also recieve mortgage interest relief of approx €110 per month.
We currently save €1700 per month and have about €40k in savings right now in a high interest a/c. Whilst we are ok to sit tight in the house for the next few years, we do want to move.Is there anything else we should/could be doing? Is overpaying a good/bad idea for example?
We own a house in the south inner city, purchased for €380k with €310k remaining on the mortgage over another 25years. House wuold probably be valued at €150k now. We are on a tracker of ECB +.95 and current repayments are €1100 and we overpay every month by €200. we also recieve mortgage interest relief of approx €110 per month.
We currently save €1700 per month and have about €40k in savings right now in a high interest a/c. Whilst we are ok to sit tight in the house for the next few years, we do want to move.Is there anything else we should/could be doing? Is overpaying a good/bad idea for example?