Early next year I will come into some money, tens not hundreds of thousands, but gratefully received. I was intending to pay off a chunk of my mortage which has another 15 years to run and is at a good fixed rate until March 2009. However, it has crossed my mind that I might gain more by paying off credit card debts first and using the rest to clear some of the mortgage. Any thoughts?

Jane,
Although you might be paying lower interest rate on your mortgage, you pay overall more interest (as you are paying the money back over a longer period). Unless your credit card has a huge balace and interest rate is 20 % plus, I would pay the mortgage off 1st. It is always adviseable to 1- not to secure debt on property (i.e. stay away from secured loans) and 2- If you get a chance, pay off secured lending 1st.

Mick

Thanks Mick, your advice is much appreciated....sorry my thanks have taken so long in coming I haven't logged in since I posted my question!

Thank you so much dear, your advice is appreciated by our group

thanks again