Mortgage.. Pay off or Keep Savings.. help

gill5blue

Hi.
I have reached that point where my savings are more than my debts (thanks to money saving help)
In September I am able to pay off my mortgage without penalty.  My savings currently pay me more(only a little more) per month than the interest I pay on the mortgage.
What shall I do?
1) pay off mortgage early
2) not pay off mortgage early
Im interested in what other people would do?
Gill5blue

Thriftmaster1973

If your earning more interest from the savings than you are paying on the mortgage keep the savings.

You are in effect mortgage free as you have the funds to clear the debt but then again with the interest situation - every penny counts.

Let it ride and keep an eye on the mortgage interest rates.

If they creep up too much pay it off.

powerspowers

Congratulations on being mortgage neutral!! I’d keep the mortgage running and pay it off if the rates went up a daft amount. 

gill5blue

Hi,
Thanks for your comments, I will leave as it is and just keep an eye on things.
My tipping point being financially neutral was end of April 2022.
Now I shall try and keep my savings and add to them.
cheers
gill5blue