Freefromrona
New Member
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Mortgage €115,000.00.
Fixed interest rate of 2.9% due to end soon. Option to fix again at same rate for 1 or 2 years. Variable rate being offered is 4.2%.
I have €5000 saved that I don't need.
Should I pay the €5000 off the actual mortgage or increase the repayments and fix for the year or two? Is one option better for repaying sooner/reducing term?
I will be selling in the next 2 years but would like to pay as much as I can off the mortgage now.
Any advice appreciated.
Fixed interest rate of 2.9% due to end soon. Option to fix again at same rate for 1 or 2 years. Variable rate being offered is 4.2%.
I have €5000 saved that I don't need.
Should I pay the €5000 off the actual mortgage or increase the repayments and fix for the year or two? Is one option better for repaying sooner/reducing term?
I will be selling in the next 2 years but would like to pay as much as I can off the mortgage now.
Any advice appreciated.