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Advice Re: Paying Off Mortgage Please

Moneysaver100
Moneysaver100 Posts: 12 Forumite
Part of the Furniture First Post Combo Breaker
in Mortgages & endowments
Our house is on the market and we currently have a small mortgage (it has no early repayment charges), when we sell and buy our next house it will be for cash (yippee).
We are considering paying off our mortgage now to save the lawyer charging us to do it when the house is sold and it may even speed the selling processing up, can anyone think of any disadvantages in doing this before we go ahead?  
Thanks in advance.      

Comments

  • Socajam
    Socajam Posts: 1,238 Forumite
    1,000 Posts Second Anniversary Name Dropper
    Do you have an life happens fund and an emergency fund?
    If one of you lose your jobs tomorrow, next month, end of year would you be ok?
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    There's no harm if you are in a position to do so. Unlikely to speed matters up though as you'll have a purchase to undertake. 
  • Moneysaver100
    Moneysaver100 Posts: 12 Forumite
    Part of the Furniture First Post Combo Breaker
    Socajam said:
    Do you have an life happens fund and an emergency fund?
    If one of you lose your jobs tomorrow, next month, end of year would you be ok?
    Yes we would be okay. 
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