Do I pay mortgage capital or credit card first?

russppt

Hi
I have a mortgage of £165,000 interest only fixed at 5.9% with 2 1/2 year remaining on fixed term. Payments are £840 per month. If I want to get out of this it will cost me about £5500 in penalty fees.
I have credit card debts of about 5k which I am servcing to the tune of £500-£750 per month in total and they are dropping steadily. Some of the cards are on 0% so I am paying off the ones that are costing the most at the moment..

Question: I am confused as to what to do. Should I keep tarting with the credit cards or pay them off, or pay the penalty fee on my fixed term to take advantage of the low rates or pay or channel more monies towards the captail repayments.
I went interest only on the mortage as I am self employed allowing to make capital repayments as and when I can to give me flexability.

Whilst I don't have the wolves knocking at my door (yet) so to speak I want to know if my priorities are right.
Can anyone help or provide a clear perspective as the the best direction?
Cheers
Russell:think:

Trying_to_be_good

I would suggest

1. Clear non-0% credit cards (expensive debt)
2. Ensure you are able to pay off 0% cards when they end (i.e. have enough savings), in case you can't get new deals when they end and rates shoot up
3. Have emergency/rainy day savings of 6-9 months income
4. Overpay mortgage/convert some to repayment - do you know what your LTV is, as this will be important when you come to remortgage.