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Almost mortgage free at age of 41
fastcam
Posts: 21 Forumite
By november this year my mortgage will be paid off as i have been overpaying for a few years.My question is,do i leave the mortgage open by a £1 so that the lender looks after the deeds,or am i better paying it off and finding somewhere safe to look after them.Also is it wise to be mortgage free?would it affect benefits etc if made redundant.
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Comments
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Deeds are kept electronically by the Land Registry. Therefore, there is no no need to leave £1 in your mtg.
If you are claiming benefits, obviously you cannot claim housing benefit.In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0
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