Bit of a money related question and wanted some peoples opinions as to what is currently the best way to proceed.
Ok so the situation is that I currently have approx £16,000 of a student loan and £105k of a mortgage. I am now in a position where I can begin saving up to pay off about 10k per year of one or the other. My head tells me I should be putting into the mortgage as its the larger amount, hence more spent on interest but currently the interest rate on the student loan is higher than my mortgage at 4.8% and the way things are going and the student loans tied to the rate of inflation not the bank of England interest rates, some people have predicted a rise to 5.4% next year.
Just wondering what people on here would do in the same situation?