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Is there any advantages to keeping a small mortgage
asda12
Posts: 50 Forumite
We will soon be in a position to be able to pay off in full our mortgage, but I'm sure I'd read somewhere that it was better to keep a small amount on mortgage as it meant the provider kept your deeds for free & it was easier to get another loan in future if you needed it.
Can anyone advise if this is the case.
Can anyone advise if this is the case.
0
Comments
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The paper deeds have little to no real value these days as the information is held electronically.
The future borrowing question is about speed. You should get a faster service as no new legal charge is needed.
But it ties you in to rate of the lender and do you ever expect to need to borrow again?0
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