Interest rates - spot the difference!
Currently there is a difference in the standard variable rates of two major lenders of 1.4%.
Interest rates are really important when it comes to long term mortgage value assessment.
A 1.4% extra interest charge on a €200,000 mortgage over 25 years costs a whopping €45,900 in additional interest payments!
Imagine instead if you used this money to invest in a pension scheme and got tax relief of 40% .
Including the tax benefit you would be €64k better off, plus the return this generates in your fund....