Repay rental mortgage or invest at low interest rate?

I didn't have the full property price at the time so had to take out a mortgage but the advise meant the difference between taking out a €300k mortgage v a €170k mortgage. I decided to take out €170k at the time. In retrospect, I would probably have been better off taking out €300k and reducing it after one year of mortgage repayments. So maybe the accountant was giving me good advice at the time.
 
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In retrospect, I would probably have been better off taking out €300k and reducing it after one year of mortgage repayments.

Why so?

Also, when did you get this advice - I thought from your initial post that it was fairly recently.
 
Why so?

Also, when did you get this advice - I thought from your initial post that it was fairly recently.
It was two years ago. Maybe if I had taken out €300k then it would have been more tax efficient.
 
Hi Logo

If you only needed to borrow €170k and your accountant advised you to borrow €300k, two years ago, then it was terrible advice and you did well to ignore it.

I think you should switch accountants. This guy obviously thinks that being able to claim tax relief on something is valuable in its own right.

Brendan
 
Thanks for the info. I tried to change accountants a few years ago but the firm I approached refused to accept my custom - something about my files being with my current accountant.