Hi my wife and I have 2 kids. We owe around 90000 over 9.5 more years on our tracker at ecb+0.95% from ptsb. She has just been made redundant and is getting around 86000 net. We have no other loans or debts (car,credit card etc) and also have an additional 80000 in savings. Should we pay off the tracker? What should we do with the other 80000 as it is just sitting in various accounts getting little/no interest.
I am a 51 year old male. no pension. Wasn't working as I was taking kids school, collecting them etc but will be getting job after summer. I am not fussy.
Female is 48. Has pension of around 40k total saved from work. She will take over looking after kids and maybe get part time job. Kids are 6 and 9. The good thing is kids are getting bigger and we don't need childcare. We are happy where we live and plan to stay in our house forever. We were thinking get mortgage paid. Then instead of paying 800 odd a month to that we could maybe keep saving it.
I read PTSB gave an extra 10% off a tracker mortgage if paid off early but that was in 2011 dont know if they would now?
Or is there an account that gains decent interest that we could put the 86000 into that the mortgage could be paid out of if we didnt just pay off the tracker in a lump sum?
Love bit of advice.
Thanks guys.
Sorry if this is repost as i couldnt reply to my previous one for some reason.
I am a 51 year old male. no pension. Wasn't working as I was taking kids school, collecting them etc but will be getting job after summer. I am not fussy.
Female is 48. Has pension of around 40k total saved from work. She will take over looking after kids and maybe get part time job. Kids are 6 and 9. The good thing is kids are getting bigger and we don't need childcare. We are happy where we live and plan to stay in our house forever. We were thinking get mortgage paid. Then instead of paying 800 odd a month to that we could maybe keep saving it.
I read PTSB gave an extra 10% off a tracker mortgage if paid off early but that was in 2011 dont know if they would now?
Or is there an account that gains decent interest that we could put the 86000 into that the mortgage could be paid out of if we didnt just pay off the tracker in a lump sum?
Love bit of advice.
Thanks guys.
Sorry if this is repost as i couldnt reply to my previous one for some reason.