Is it easier to get a new mortgage if we currently have one?

PParka

Hi,
Does anyone know if it is better to have a current mortgage if you are applying for a new one??

Here's the scenario.....
We’re in the lucky position of having a fully offset mortgage (i.e. paying no interest)
We could pay it off and be mortgage free.
In about 8 months we are going to buy our ‘forever’ house and will need a bigger mortgage.

Will we get a better deal on a new mortgage if we still have our current one? Or will it be better to be mortgage free? Or will it make no difference at all?

Thanks in advance......

dimbo61

wont make a lot of difference.
the lender will be more interested in your joint income, debts, deposit, how much you want to borrow , credit score.etc.
If you clear your current mortgage with no ERC and find your forever home will you have the money for fees, surveys, solictors etc?