Which is the best long term investment?

I have received an investment which means that I can reduce my mortgage and pay 拢500 less per month. As I do not have a pension I think I should use that extra cash to invest for my future - but what in? Pensions, isas, peps - it's all so confusing. Please help. By the way, I am around 20 years from retirement.

Oops - i meant to say that i have received an inheritance, not investment.

Clear all debts including your mortgage as soon as possible. You will find life becomes so much easier.

Buying a house, and improving it's equity over time.

property

Buy a flat in a touristy destination, do it up to high class standards, and rent it out to short stay tourists.
I've done that, and it brings in a hell of a lot of money.

Well property would be a good investment as are shares, but personally I'd go for property then invest what's left in a long term savings account, like a 90 day account or an ISA.

Northern Rock or Westland Helicopters / Bearings Bank are ok... ( ask for Nick ....tall chap with glasses , has 3 Ferrari's and a house next to Richard Branson )....But joking to one side you cant go wrong with "Buy to Let" ..... its easy money..
Good luck.

if you can afford it buy an investment property

you will need a 15% deposit but if you can buy in an area where rentals do well even if it's only a studio flat you should, fingers crossed, be able to rent it out for enough to cover the mortgage

i think that property is the best long term investment and certainly within the next 20 years it will increase more in value than any pension or isa

Pay it into your mortgage, but carry on paying the same monthly instalments so that you wipe out your debt earlier. Then your free income will be that much bigger.

Also, owning the house, will not debar you from state benefits, if you need them as a pensioner, while investments and income from them, will.