Not sure what to do. After paying our place off early a few years ago (took a 30 year loan and paid it in 10), wondering if to close the account early or not. It does have a redraw feature but don't need it.
Is there any risks in keeping the property under a "Mortgage and Broker Originator/lender?"
They have been around for a while but still not a big/known company.
When we started the loan, the interest rate was well below the big banks but today their rate is 9.47% which seems high. The loan has no ongoing fees and redraw etc but still seems odd to me being so high now.
A reason to keep it open is because I would need a place to store the mortgage papers but wondering if I'd be better just to close it.
Where do you store them?