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Small mortgage....any advantage to keeping a small balance?

suilegorma · 2022-09-24 17:42:07

We are down to a very nominal balance on our mortgage with 9 years to go on original term. Is there any advantage in keeping a small balance ? I had thought of deeds storage and ability to potentially reborrow if we need eg to renovate. Any other reason? Note it is with one of the exiting banks.

24-09-2022 6:42pm

#1

suilegorma

Registered Users Posts: 97 ✭✭

Join Date: September 2009

Posts: 89

We are down to a very nominal balance on our mortgage with 9 years to go on original term. Is there any advantage in keeping a small balance ? I had thought of deeds storage and ability to potentially reborrow if we need eg to renovate. Any other reason? Note it is with one of the exiting banks.

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