Save or overpay Ulster Bank tracker mortgage?

C

Cooley

Registered User
Messages
14
Hi
Just wondering if anyone can advise me about this. I have a tracker with UB and am in neg equity. Hope to move in the next year or 2 as live in a small apt and now have 2 children. We pay 400 euro extra a month into our mortgage. Should we stop paying this extra into the mortgage and save it? If we were able to take the tracker to a new house in 1 or 2 years would it be better to have overpaid mortgage or have more savings. Have about 10,000 savings now. thanks
 
You don't say at what rate your tracker is at. If you can earn more in interest with that extra 400 than the interest rate on your tracker then you are better of saving.
Also take into consideration that you may need some money for moving - solicitors fees, moving costs, new furniture etc so handy to have some money put by for that.
 
You must log in or register to reply here.
Back
Top