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Moving home, should I clear mortgage first?
grambo
Posts: 34 Forumite
Hi,
I'm looking to move home, and have a small (flexible/portable) mortgage on my current property which will be due to clear within 12 months. Can anyone advise of the advantages/disadvantages of clearing this early and applying for a new mortgage on my new home, or just moving it to the new property with additional lending?
thanks
I'm looking to move home, and have a small (flexible/portable) mortgage on my current property which will be due to clear within 12 months. Can anyone advise of the advantages/disadvantages of clearing this early and applying for a new mortgage on my new home, or just moving it to the new property with additional lending?
thanks
0
Comments
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With such a short period of time to run then there's really no benefits or negatives. What rate of interest are you paying?0
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+0.27% above BOE rate for term0
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Might as well let the mortgage run it's course.0
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