PAY OFF MY TRACKER ?
Q. My dad, a widower, was sadly one of the first pandemic victims. He left me his home worth € 278,000 – I am an only child. We sold the house, and it is all tax free but I have an outstanding mortgage of € 284,000 on a 0.9% tracker rate with 17 years to go. With income of over € 90K between the two of us, we can well afford it 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 the Doc think ? Thanks Paddy – Listowel Co Kerry