I have a variable rate mortgage with AIB, approx €190,000 left. I'm considering paying a lump sum of 60k off.
I want to lower the monthly payments rather than shorten the term.
Would this mean a big savings on interest? Also I presume as it's variable I won't be penalised?
Any advice would be much appreciated.
I want to lower the monthly payments rather than shorten the term.
Would this mean a big savings on interest? Also I presume as it's variable I won't be penalised?
Any advice would be much appreciated.