Ask the expert: Should we overpay our mortgage or would we be better off saving money instead?

Sinead Ryan answers your property finance questions

Our expert feels overpaying a mortgage may not currently be the most prudent use of spare cash

Sinead Ryan

Question: Our mortgage is on a fixed rate until July 2025.

The interest we are paying is 2.9pc which we are happy with, but are nervous about it going up, obviously when we renew. We do have some extra money to spare each month, around €500.