We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Pay debts or money off mortgage?
Options
davethebass
Posts: 1 Newbie
I have recently inherited £5k and don't know what is best to do with the money. I currently have approx £5k in unsecured debts and also have a mortgage of £97k, my house is worth approx £90k so I'm in negative equity. Am I better off paying the £5k off the mortgage and continue paying the unsecured debts on a monthly basis, or should I pay of all the unsecured debt and pay more off the mortgage each month?
Any advice gratefully received!
Any advice gratefully received!
0
Comments
-
I would pay off all the little debts and cancel all cards /overdrafts
thats just me though0 -
Pay off the debts with the highest interest first.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.2K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.3K Mortgages, Homes & Bills
- 177K Life & Family
- 257.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards