Opinions welcome

edited 25 March 2016 at 7:40AM in Debt free diaries
010115_to_311217010115_to_311217 Forumite
2 Posts
edited 25 March 2016 at 7:40AM in Debt free diaries
Hi all (don't know if I've worded this wrong but 101 views but not one view or suggestion offered. Have I put it in the wrong section?)


0n 01/01/15 I set myself the target of being Mortgage and Credit card debt free by 31/12/17. Plan was pay off mortgage first as this is 2.5% interest and the credit card debt is on 0% (Halifax and AA both through MSE). If I carry on the way I have been the mortgage will be cleared 3 years early in Aug 16. Then I planned to use the extra money no longer paying on mortgage to pay off the credit cards in the order the 0% expires.


However, a friend has advised that I should keep the mortgage going at a very low monthly payment and pay off the credit cards as I will not be able to get credit without a mortgage or at 45 wont be able to get a another mortgage if I decided to buy a 2nd house to rent out. But if I keep the mortgage ticking over I could get a remortgage with the equity in my house.


I'd appreciate your views...
a) continue to pay of mortgage then attack credit cards
or
b) use the mortgage overpayments built up to keep the mortgage ticking over until the original date Aug 19 and pay off the credit card bills first.


Is there logic in what my friend suggests??


Let me know what you think. Thank you
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