SHOULD I PAY OFF MY TRACKER MORTGAGE ?
Q. I received an inheritance of € 79,000 from my late mother’s will. It is all tax free and I have an outstanding mortgage of € 284,000 on a tracker rate. With income of over € 88K between the two of us ( no COVID payments ), we can afford the mortgage despite two young children aged 7 and 9. I am getting confusing advice as to whether I should pay this off with my inheritance or keep it and invest it elsewhere. Deposit rates are hardly an incentive. What does JLo think ? Thanks Jim – Limerick