I'm coming off my fixed rate onto a tracker mortgage next month.
I'd like to use this to reduce the term of the mortgage - I currently owe €223K over 32 years.
What is the best way to do this?
I pay by DD each month; how can I arrange an additional overpayment, or is it better to save a lump sum and lodge this later in the year if/ when rates start to rise again?
Also, I know it's advised to repay on the capital not the interest - how do I do this?
I'd like to use this to reduce the term of the mortgage - I currently owe €223K over 32 years.
What is the best way to do this?
I pay by DD each month; how can I arrange an additional overpayment, or is it better to save a lump sum and lodge this later in the year if/ when rates start to rise again?
Also, I know it's advised to repay on the capital not the interest - how do I do this?