We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Mortgage paid off at end of month, should I keep it going?
gordon2
Posts: 89 Forumite
I have an interest only mortgage with an endowment maturing at the end off June, which, along with some of my savings, will enable me to pay the mortgage off.:j
Someone said to me that I should pay off the mortgage less a few £, that way if I ever wanted to borrow money I could easily get a new mortgage.
Also are there any other advantages to keeping a mortgage going?
Me, I would prefer to have it paid off.
The mortgage is with the Halifax and my wife and I are retired and live in Scotland if it makes any difference.
Someone said to me that I should pay off the mortgage less a few £, that way if I ever wanted to borrow money I could easily get a new mortgage.
Also are there any other advantages to keeping a mortgage going?
Me, I would prefer to have it paid off.
The mortgage is with the Halifax and my wife and I are retired and live in Scotland if it makes any difference.
0
Comments
-
You couldn't 'easily' get a new mortgage as you'd still be subject to lending criteria. If you'd prefer to have it paid off, I'd do so - it is a good feeling.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards