Any reason NOT to pay towards mortgage?

MoodyGit

My fixed rate mortgage finished in July and I went onto Halifax's svr which is 3% or something. I didn't take another fixed rate because I  planned to pay it off within a year with some inheritance due to me and the early repayment fee would have been far more than the extra interest on svr.
However, we have now decided to move to a more expensive house and still have a mortgage about the same size as we currently have. House is currently on the market.The inheritance is coming through in dribs and drabs (although quite a lot).
So far I have cleared all other debts, paid £10k to the mortgage and put aside several thousand for moving expenses.
My question is: Is there any reason why I should  NOT pay more to the current mortgage before we move house?
My only worry really is that the lenders might not be keen to lend more than the current mortgage or that sort of thing. 
Many thanks
M G

[Deleted User]

One reason is that your money may be better used elsewhere, such as a pension.

MoodyGit

Deleted_User said:

The main reason is that your money may be better used elsewhere, such as a pension.

Hmm..., either way, the money will be going towards the next house and within the next few months if all goes to plan.

Thrugelmir

If you are on the lenders SVR then presumably this a fairly high rate. Continue to pay the mortgage down and enjoy the benefit of doing so. 

[Deleted User]

MoodyGit said:

Deleted_User said:

The main reason is that your money may be better used elsewhere, such as a pension.

Hmm..., either way, the money will be going towards the next house and within the next few months if all goes to plan.

Then unless you can get more interest on the money than you;re paying for the mortgage, pay off what you can now (subject to any limits).

MoodyGit

I think that's made my mind up. I'll dump some more to the mortgage
Thanks

dimbo61

You maybe asked by your solicitor to pay some fees upfront for searches, survey and mortgage fee £999/1499 upfront to get a really good fixed rate so always good to have emergency funds in the bank.
If things move quickly and all the inheritance money has not arrived before you need to sell/buy then consider an offset mortgage.

MoodyGit

dimbo61 said:

You maybe asked by your solicitor to pay some fees upfront for searches, survey and mortgage fee £999/1499 upfront to get a really good fixed rate so always good to have emergency funds in the bank.
If things move quickly and all the inheritance money has not arrived before you need to sell/buy then consider an offset mortgage.

I haven't heard of an offset mortgage before, and having looked up what they are, I'm not sure that's what you mean. I was thinking about a normal mortgage with a bridging loan part in case the inheritance is held up.
I think I might need to speak to a broker. Simply getting a larger mortgage and repaying a lump sum might not be possible due to my age (even though it would be about 35% ltv)