Common sense would suggest paying off your mortgage but if you husband thinks it might be difficult to find another job quickly at his age, and he is the sole breadwinner it might be sensible to pay some of it off and hold some back for other living expenses such as council tax, food, car expenses, etc. The reality is that re-employment at that age might be difficult and you do have to live so sit down with a list of your outgoings and do some sums first. If you have other savings, or a second income coming in, then clearing the mortgage, which is your heaviest expense makes sense.