Mortgage free or keep a tiny one?

edited 27 June 2009 at 11:53AM in Mortgage-Free Wannabe
2 replies 523 views
Mad.birdMad.bird Forumite
1 Post
edited 27 June 2009 at 11:53AM in Mortgage-Free Wannabe
Hopefully this time next year I'll be at the point where I can keep my over payments going and the mortgage will disappear, or I could ask to go down to minimum payment. This should be less than a fiver a month to keep the mortgage going.

I am under the impression that this would make my credit check thing look good.

Please give me some advice, because I haven't got a clue!



  • SammyD_2SammyD_2 Forumite
    448 Posts
    My thoughts are why would you incur interest however small? And also, more significantly, why would you let someone still have a security over your home, unless you had to. I would get rid of it as soon as possible!
  • torbrextorbrex
    71.3K Posts
    10,000 Posts Combo Breaker Rampant Recycler Hung up my suit!
    Pay it off as soon as possible, the feeling you get from being mortgage free far outweigh's any reason you can think of for keeping it going.
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