Is there any reason to keep mortgage open with small balance?

Pat38493 Forumite Posts: 2,200
Ninth Anniversary 1,000 Posts Name Dropper Combo Breaker
If I am able to pay off the full balance of a mortgage, is there any reason to keep it open with a small balance?

For example if the original agreed mortgage deal still has 10 years to run, is there any value to having it still open as a kind of "pre-approved" line of cheap credit and/or to keep your credit history good?


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