should we pay off mortgage

we owe aprox 20,000 euro left on mortgage. should we pay it of, or keep it in the bank.We have about 80,000 euro left in savings if we do this thanks

One question that comes to mind is what interest rate are you on and is it fixed or variable.
Personally if I had as much savings as you do and such little on the mortgage I would clear and be happy to have the deeds and be proud to be the only owners of it. Well done.

Pretty much in same situation as yourself with €30k mortgage / €150k savings. I have decided not to pay mortgage (tracker) in order to keep as much cash as possible for buying another property if/when time is right. I am not a risk taker, so may be not an optimised way of investing, but make me sleep well.

With interest rates being so low, you may be getting or able to get a higher deposit interest rate than you are paying on your mortgage, especially if you have a good tracker rate. In this case, you are financially better off to keep your money on deposit.
This also assumes that you are comfortable with the security of your deposit.
This situation is not likely to last. When interest rates rise, deposit rates will not go up as much as mortgage rates and we will be back to the traditional situation that you save more money by paying off your mortgage.

As niceoneted says, there is a nice feeling of not having a mortgage.

Pay it off! Would love to be in your situation

Should I use a lump sum to reduce my mortgage?

Key post

thank you all for your responses think i will keep it on deposit for the moment as we are on a tracker mortgage