I have a ~£60k mortgage which is paid interest only, with an endowment to pay the rest, in 22 years. I've inherited ~£10k and am unsure of best method to invest it.
1. Should I pay towards the mortgage, thus reducing my monthly payments, or try to see if it can go towards the endowment?
OR
2. Might you advise cancelling the mortgage & endowment due to current risks associated with the latter, and pay it into an interest & capital mortgage?

I would recommend that you take the 10k, invest that money and use the cash-flow from those investments to pay for your mortgage.