Making Cents: Overpay your mortgage now, to save later

Mortgage expert Martina Hennessy, Managing Director of doddl.ie. Picture Conor McCabe Photography

When it comes to financial advice that lots of us have heard and few of us have acted on, mortgage switching probably tops the list. But an Irish financial adviser is trying to change that, and is using the money that people are saving while working from home as an eye-opening example.

Martina Hennessy is managing director of doddl.ie, an online mortgage platform. She has crunched the numbers, and says households which would have spent €150 per month on commuting and lunches would cut six years off the average term by overpaying that amount into their mortgage each month.