Should I clear my mortgage before moving??

burkepa

Hi - I'm in the fortunate position of only having about £2,000 outstanding on my mortgage and am in the process of trying to sell my house and move onto something bigger.

Does it make the move process easier if I were to settle my mortgage before trying to move...?? Would it make the solicitors fees any cheaper...??

I've recieved conflicting information from different sources but I suspect somebody on the forum has been in similar circumstances.

Thanks

DVardysShadow

We have done that, but we did it through our solicitor some months before completion. For the effort involved I doubt that there is any saving to be made on fees if you pay it off beforehand. Financially, you put your money to paying off the mortgage or to keeping savings according to the highest interest rate.

Beckyy

That depends. How many months would it be if you let the mortgage run it's course? Do you have any repayment fees etc.?