Mortgage Free or Keep It

dosh1

Hi,
My mortgage is up for renewal in December this year, however, I have managed to save enough money such that I could pay off at this point and have no mortgage to worry about.  I wouldn't have much savings at this point though.  I am 55 and likely to move in the next year or two (last move I think).  Also, likely to work to 60.
Whilst I could be mortgage-free by paying it off is this the best thing to do or should I keep hold of the mortgage and keep savings in savings accounts?
My mortgage is only 150 a month current 1.79l% rate.
It is possible I may need a small mortgage for moving if I decide to buy a more expensive place so am I in a better position having a mortgage already bearing in mind my age?  I cannot imagine a bank will loan much money at my age?
Not sure what my best option is?
Thanks

dosh1

Any thoughts from others would be welcome

longway2go

I think you would firstly need to know if the mortgage itself is portable so that if you wanted to transfer to another property then you could. If this is possible then in your position may be inclined to keep it.