Small endowment matured - really dont know what to do with it, let me know what you think?

[hulahoopsilove]

ok current payback is £12k (should of made £17,500) mortgage left to pay is £19k. One DS age 10.

I really dont know what to do. Mortgage payments are fairly small (£400 a month) with 3 years left, so manageable.

I dont want to blow it on decorating, new car holiday (as I can see my DH is thinking) Really want to put to away I think for DS education, help towards 1st house etc.. But really dont know how to go about investing. No nothing about stocks shares and lost so much over the years with this.

Anyone give any advice please

should mention we have a repayment mortgage but kept the endowments going

You can get 3% on a santander current account

What is your mortgage rate - you are unlikely to get better without significant risk today. Pay towards mortgage, keep repayments at £400, then look at how to save £400 a month in about 18 months

I agree with caroldecker
Pay it off your mortgage (as long as you aren't in a deal that will penalise you for overpaying) then look at investments once you don't have debts. You are almost certainly paying a lot more on your mortgage than you can earn anywhere else.

yes Ive decided to pay towards mortgage our rate is very small atm and thats bound to change so get in now...then keep with the £400 payments and overpay shouldnt take that long to pay off then I can still put the £400 away still each month for DS

I get very nervous about DS future just want him to have a good start