MFW but need help to consider my options

Best_Auntie

Hi,
I've reached a financial crossroads and need a little help exploring my options and deciding what I should do next. I thought I would ask you guys for your opinions.

Using all the ideas and advice on here I have managed to pay off all my debt and now only have my mortgage left.

We owe £98K with Northern Rock with 18 years left. We have 10 years of a fixed rate left at 5.39%. (I know we could get better deals but need the security of knowing what we need to pay every month long term). It is a fairly flexible deal we can over pay (in regular payments or lump sums over £500) we can under pay or take payment holidays if needed or take back any over payments we have made.

I left the civil service 2 years ago with a small pension giving £13K lump sum and about £7k pa when I reach 60 in 15 years time. Currently I have no other pension arrangements.

I have 6 months salary saved in an ISA to cover emergencies or fluctuations in hubby's income as he is self employed. By the end of this month I will have used up this years cash ISA allowance.

Currently I can afford to save £500 to £700 each month. My dilema is now that I have paid all my other debt and have some put by for emergencies how best to use my monthly savings.

I've worked out, if I put it all towards the mortgage then it would be paid within 8 to 10 years (leaving a few £ to pay off to avoid the fixed term penalties if needed). Once the mortgage is paid off I could then save for our retirement.

We are also considering some sort of equity release when we retire as we have no dependents to leave our etstate to. (Obviously we would seek financial advice before doing anything like that).

Other options I've thought about are putting it all in a fixed savings account. Putting it in a stocks and shares ISA, setting up a private pension. Or a combination of everything above.

Thanks for reading this far. I would really welcome everyones ideas.