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Should i pay a bit extra off my mortgage

Sooetie
Posts: 141 Forumite


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
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
0
Comments
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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.0
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