Should I pay off my mortgage?

photo_guy

I've got a mortgage with Nationwide (on their BMR) which is one of their older more flexible ones where you can overpay, underpay or suspend payments for a while.
I am now in a position to pay ff the mortgage (about £40k) but am also looking to move house at some point this year to a larger property which will mean taking on a new mortgage .

I was wondering if there is any advantage in having an existing mortgage when moving house (in terms of credit rating, etc)?

I see my options as:
1) Pay off existing mortgage now & get a new mortgage when I find a house
2) Keep paying existing mortgage until I move, pay off mortgage as part of selling off my existing house and take out a new mortgage
3) Port existing mortgage to new house - not sure if this is an option & if so, if there would be any advantages to doing this?

silvercar

2) keeps your options open

TrickyDicky101

You probably have a borrow-back facility with NW so you could park most of that £40k outstanding with NW to reduce your interest to a negligible amount whilst you consider your future options/direction?

Eliz1444

second option i think

Thrugelmir

Can you better the BMR on your savings?

Selling and moving property takes time.