Best course of action

donutneck

Hey guys,

So I have an 11 year old Northern Rock mortgage from when I was 22. At the time, I had nothing: no savings, no anything.

I got a decent paying contract and got the classic Northern Rock mortgage to get myself on the housing ladder. It was the 80% mortgage / 20% loan style.

This has been fine, being honest and now I'm in a significantly better position financially, I've spent the last few months saving to pay off the £20k "loan" part.

My questions are:

1. Is that the best course of action, to rid myself of that "loan" part so that if I move mortgage (i'm variable now, which is ok short term) NRAM don't hike the price of the loan interest?

and

2. What other options do I have, there?

Many thanks in advance.