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Should i pay a bit extra off my mortgage

I have an interest only mortgage which I know is not a good idea but at least Me and my kids have a house to live in with some equity.

I also have about £8.5k debts on CC/loans mostly due to buying the house.

My mortgage provider has now said I can change what i pay at no charge.

There is no way I can change it to repayment at this point but would it be worth paying £100 a month off the mortgage or continue trying to get my other debts down?

There is 17.5 years left on the mortgage at 4.25% CC run at c 22% pa

I'm just wondering which would be best to pay

Comments

  • beecher2
    beecher2 Posts: 3,677 Forumite
    Tenth Anniversary 1,000 Posts Combo Breaker
    Pay off your credit cards first but you do need a proper plan to pay off the capital so I'd advise heading to the Debt Free Wannabee forums for help with your budget.
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