Hi,
I would really appreciate some third party perspective on paying off a mortgage early. Details as follows:
PTSB, tracker ECB + 2.3%
110,000 to be paid down over remaining 24 years.
Property in negative equity - circa 50,000
130,000 in savings sitting on deposit.
Annual salary of 70,000. Paying into company pension.
No other loans and no dependants.
I think repaying early will save me around 28k on interest repayments. I realise I'm lucky to be on a relatively low interest rate, although the ECB is set to rise next year.
Would love to hear your thoughts.
Mclovin
I would really appreciate some third party perspective on paying off a mortgage early. Details as follows:
PTSB, tracker ECB + 2.3%
110,000 to be paid down over remaining 24 years.
Property in negative equity - circa 50,000
130,000 in savings sitting on deposit.
Annual salary of 70,000. Paying into company pension.
No other loans and no dependants.
I think repaying early will save me around 28k on interest repayments. I realise I'm lucky to be on a relatively low interest rate, although the ECB is set to rise next year.
Would love to hear your thoughts.
Mclovin