SSIAs into Mortgage?

C

Canaryman

Guest
Hi,
My wife and I are the owners of an inmvestment property as well as our own home. We want to pump the majority of our 40K from our SSIA's into our mortgage but we are not sure which mortgage would make the most finaicial sense to reduce.
Our home mortgage is over 30 years and is for €395K, whilst our investment is over 25 years and is for €250. Both are currently on variable rates.
Can anyone advise?
Thanks
 
Given the tax situation (interest on borrowings on investment property are allowable at your marginal rate of tax), it almost certainly makes more sense to pay off the residential mortgage first.
 
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