We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Nearly, nearly there!
Tiggermad
Posts: 143 Forumite
We are very nearly there with paying off our mortgage, hopefully in the next 6 months!
However, I do have a question. Is there any benefit to keeping a very low balance on the mortgage?
We used to have a mortgage where you could borrow back your overpayment at the same rate as your mortgage but don't have this on our current mortgage unfortunately.
I think I read somewhere it was useful to hold small balance so the bank/ building society would hold the house deeds safely but with these now available on line, is there any benefit to keeping a mortgage running?
However, I do have a question. Is there any benefit to keeping a very low balance on the mortgage?
We used to have a mortgage where you could borrow back your overpayment at the same rate as your mortgage but don't have this on our current mortgage unfortunately.
I think I read somewhere it was useful to hold small balance so the bank/ building society would hold the house deeds safely but with these now available on line, is there any benefit to keeping a mortgage running?
0
Comments
-
None at all to speak of.2
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.5K Banking & Borrowing
- 253.3K Reduce Debt & Boost Income
- 453.9K Spending & Discounts
- 244.5K Work, Benefits & Business
- 599.8K Mortgages, Homes & Bills
- 177.2K Life & Family
- 258.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards