IO for full Term: What to do with Capital Payments?

[3rd Gen]

My PPR is on a full term IO with BOS and my question to the forum is:
What to do with the capital payments
i.e pay this off month to month for the duration of the term (hopefully we will be able to pay pack the full amount by end of term), put it in a savings account for the remainder of term, invest in other products like long term lock away savings accounts etc...

Details:
38 year term with 31/32 remaining
Amount Borrowed: €480,000
Amount outstanding: €465,000 (roughly)
IO is costing just under €700 per month.
Available monies to put off Capital: c.€500-€650 per month.

At the moment the money that we are saving is just sitting in our current account. We have recently come out of a really tough period financially thanks to me getting back to Full Time employment from being self employed.

Other factors to consider:

I have 2 investment properties that are now on 3 year arrangements with KBC paying back Interest and a reduced amount of capital.

 

[TRS30]

My PPR is on a full term IO with BOS and my question to the forum is:
What to do with the capital payments
i.e pay this off month to month for the duration of the term (hopefully we will be able to pay pack the full amount by end of term), put it in a savings account for the remainder of term, invest in other products like long term lock away savings accounts etc...

Details:
38 year term with 31/32 remaining
Amount Borrowed: €480,000
Amount outstanding: €465,000 (roughly)
IO is costing just under €700 per month.
Available monies to put off Capital: c.€500-€650 per month.

At the moment the money that we are saving is just sitting in our current account. We have recently come out of a really tough period financially thanks to me getting back to Full Time employment from being self employed.

Other factors to consider:

I have 2 investment properties that are now on 3 year arrangements with KBC paying back Interest and a reduced amount of capital.

I assume you are on a cheap tracker with BOS? If so then you need to compare the interest rate against regular saving interest rates. You also need to factor in reduced interest payments against paying down the capital.

It might work out that making lump sum payments off the capital every year or even 3/5 years might work out better.