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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Pay off or keep current mortgage before raising more funds
freddieb_2
Posts: 3 Newbie
Have just £2k left in our mortgage and can pay it off completely if needed. But, we're looking to move house early next year, where I'll need to raise funds (~140k).
It's really tempting to be debt free and pay off the mortgage, but I also think I'll have an easier time getting the new mortgage if I keep the current one open, even if its just got a few hundred on it.
What do you think? Is remortgaging better than paying off our current mortgage and getting a completely new mortgage next year?
Thanks!
It's really tempting to be debt free and pay off the mortgage, but I also think I'll have an easier time getting the new mortgage if I keep the current one open, even if its just got a few hundred on it.
What do you think? Is remortgaging better than paying off our current mortgage and getting a completely new mortgage next year?
Thanks!
0
Comments
-
It's really tempting to be debt free and pay off the mortgage, but I also think I'll have an easier time getting the new mortgage if I keep the current one open, even if its just got a few hundred on it.
Has no impact on any future application. You may select a different lender for your next mortgage.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.4K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.5K Work, Benefits & Business
- 602.8K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards