Could switching the last £25,000 of my mortgage to interest only work?

[aLFIESMA]

I wondered if switching to interest only for last £25000 of my mortgage (my home is £335000) could be feasible? I have the funds to pay it off but am a liitle scared to be left without an emergency pot.
The interest part of the payment is only £40 per month. I could then pay off the capital in 'lumps' as I saved for them whilst still feeling safe.
It seems such a good idea to me that I'm almost certainly missing something!
Any advice would be welcome,thankyou.

Why would you not just pay the monthly mortgage as normal?

Stricter affordability checks. I tried with my bank for a 2 year period. It was a no. If your house drops in value ? If you can pay it off so so then you can save your current mortgage payment.
There must be reasons not to otherwise everyone would do it.

I paid mine off with a lump sum and within a few months I had resaved my emergency fund. Quite easy to do without having to pay a mortgage!

I won't have the income in retirement for the mortgage payments so have saved the amount owing. Now I just feel a little scary at the thought of being without it as a safety net.
TBH, I thought I'd downsize but am just wondering if there is an alternative for a while. The thought of only paying £40 per month popped into my head.
I would still have enough left to be able to buy a bungalow even if I didn't pay the final £25000. Perhaps living another year or so here I was thinking? I'd get twice the interest worth leaving it in the bank too!
I dont need to decide quite yet but thought I'd ask.

This is the sensible approach ThirdStorm, I just need a push! I imagine the roof, boiler and walls all suddenly needing funds (they're all good!)

@aLFIESMA It is a bit scary to be down to your last £200 (as I was) and I had all those thoughts about everything breaking at the same time! I considered waiting a few months so I had extra put by but the relief of being mortgage free felt worth it so I don't regret going for it.

Thankyou, I need to channel my inner ThirdStorm Vibes!

Seems like a good idea to me. If the mortgage company will let you, why not?
Particularly IF you’re on a low enough rate that your savings would earn more in the bank and you are planning on moving to somewhere cheaper in the next couple of years.

Doesn’t seem a very good idea to me. If you have the money pay off half of it.