For many years, we have been advising our clients to ‘over-pay’ their mortgage if they can. With deposit interest rates low and condsidering DIRT, it made more sense to clear down debt rather than increase savings. This is still the case, but with most entrepreneurs and individuals in survival mode, not many will be able to pay more. However, it still makes sense if you can afford to do so. Last week we saw the first increase in ECB interest rates for some time, how many more increases will follow? If nothing else, paying extra on your mortgage each month now, will prepare you for the increased repayment in the months to come, and you will be reducing your debt. For tips on how to keep your mortgage costs down, see the article in last Sunday’s Business Post