Pay off or keep current mortgage before raising more funds

freddieb_2

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!

Thrugelmir

freddieb wrote: »

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.

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