Help! What to do with £13k? Advice please.

fwubbar

I am 42 and have £13k in premium bonds which are currently giving a poor return, I have a £58k mortgage with 20yrs to run against our home valued iro £150k and I have plans to move/travel so need the access to the money when the youngest has finished education in about 5-8yrs time (depends on chosen career path). Evidently, I need my money to work hard for the best outcome during this time.

Do I keep the premium bonds in the hope they'll give a good return in the future, or put all the money into something like an ISA (or something similar - good interest rates, low risk), or put it towards the mortgage and thus reduce monthly payments and use that monthly difference to reduce mortgage further/pay into ISA - or re-invest in something else such as a plot of land that I could rent out? Or something else low risk? .

I want to do something for the medium term until that time, but once that money has gone - that's it, I have no more. So could you come up with wise ideas I can work with before I decide what to definately do, please?

Kind regards,

Fwubbar.