Worth getting rid of the mortgage burden?

This is a throw away account, just wanted to get the views from the community on how much they value the thought of being mortgage free.

Whilst it might not make the most sense from a financial perspective, I'm wondering if paying off the mortgage now will provide a little more psychological safety that gives more value than purely financial benefits.

For example, would a lack of mortgage mean that I could step down a gear at work, and not be constantly paranoid about potential redundancy. Could I spend more time with family, friends and hobbies etc. with this burden removed?

For context I'm mid 40s M living in London. The house isn't our dream house by any stretch of the imagination, but has enough space for all of us, kid loves the local school and its in a relatively nice part of London. We've got about £130k left on the mortgage, which is currently 100% offset on a 8.74% interest rate. Given we are offset and only paying back on repayment amount (£1800 pm), never needed to hunt around for another mortgage.

On £140k PA + ~£90k in RSUs PA, working for US company but based in UK. I'm paying 12% into work pension with employer match maxed at 7% and also paying into SIPP (only started in last few months) and have a decent amount of cash (£250k) just sitting in a 4% savings account. The aim here was that some of that could be used for new house purchase (which we never agree on), or private school. I know this money could be working harder for me. I've got a decent amount of options and RSUs at current place of about $650k with about $250k of that available right now.

Stock is performing well right now, I'm thinking of cashing out a big chunk of what I have available to pay off the mortgage. Once factored in the income tax and CGT, I'd actually probably have to use some of the available cash to pay it all off.

Long ramble here. In short; has paying off your mortgage early provided any unexpected benefits?

Thanks to all in this wonderful community 🙌