Advice please:-
I owe quite a small amount on my Mortgage around 10500; my mortgage is a
10 year mortgage, of which there is a term of around 3 years left.
I will be thinking more about buying a another house in around 3years time , I'm a new company director , before this I was a partner.
I have spare cash; I was considering paying around 7000 off the mortgage leaving me with around 3500, which I would keep on until the term is complete , with the mortgage company reducing my payment plan accordingly.
My reasoning for doing this is to help keep a track record with the mortgage company is this sensible thing to do.
I understand my house is still an asset so mortgage companies would still be happy to lend me money, weather I have a current mortgage or not....
P.s
Merrrrrry christmas and have a very happy New Year.