You’ve been given £500k tax free

[Newsenmum]

What are you going to do with it?

I’ll pay off the mortgage to make our day to day lives more fun and manageable. I’ll do up the kitchen but leave the rest of the house for now (want to decide slowly exactly how we want it). Will organise a lovely family holiday (maybe a big house in Italy) and the reminder in savings for now.

Anyone else?

I’d love to buy something like this
https://www.rightmove.co.uk/properties/142975919#/?channel=RES_BUY

Probably move to be near the sea, seaside is my happy place. . I'd give my kids/grandkids some money, Rescue a few more animals, give some money to charity and enjoy a shopping trip or two.

Pay off the mortgage, sort the much delayed extension

go on one posh holiday, the rest I’d probably save for kids uni/first houses

Very good deposit though! You’d have a much lower mortgage.

Pay off the mortgage, new full kitchen, landscape garden completely, new conservatory roof, change the loft to a bedroom and see what we had left to either buy a new (to me) car and a holiday for us and my parents!

Pay off mortgage -£200K
New car - £25K
New kitchen, new windows, new carpet and house reno- £K100
Stick £100K in pension pot
£50K on a villa and flights in Greece for family and friend in the summer

The remaining divide up between DC and an amazing shopping trip.

Pay off mortgage, do various home improvements, have some great holidays, set the remainder aside for DD.

Pay off the mortgage £200k, I would probably then spend around £25k on doing the house up.
I would pay off our debts - around £20k.
New car each - nothing fancy - probably £40k
£50k away for my daughter, £50k for each of our parents
Nice holidays, few treats here and there and save the rest.

Pay off the mortgage
Save some for ds and dnephew
Put some in savings for me and dh
Look at extending the house and new bathroom
Maybe treat myself and DH to new cars

That would probably be all of it. DH and I would keep working for a few years to save up and retire early.

Pay off the mortgage.
3 new bathrooms.
New kitchen in our holiday place.
Anything left would go to DD to fund her PhD

I'd buy a house outright. You can buy something decent for £250k here so I'd buy one in cash & use the rest for renovations, a small holiday & savings.

Save it - the more I save, the sooner I can retire.

Sort out house, decorate, new kitchen, small extension for a craft room, sort out front garden, give up work. Or house, garden, keep working part time and employ a cleaner.

Nicer house, better car.

Pay our remaining loans - £10k
Get two new cars (new to us, so probably £15-20k total).
Go on the two main holidays we have planned but are postponing for this year - £10k
Get the bathroom, en-suite and lounge done and then carpet/new floors for the whole house - £15-20k again.

We would then move, but we’ve just had a new staircase fitted because it wasn’t built to regs, and we’ve done all the bedrooms ourselves, so we’d carry on because at least then the standard of the house would match.
We’re in our first house and we aren’t planning on staying forever, we need somewhere with a driveway and it would be nice to have somewhere bigger. We would more than likely still have a mortgage though rather than use it all towards a mortgage - just a smaller one hopefully with a better bloody interest rate!

I’d also take the full year maternity. We should probably still have half the money left by that point so £8k a year into our LISA’s for retirement, and the rest into other savings.

Move house. Buy somewhere bigger mortgage free (or with a small mortgage)

New windows and doors.
Rest invested for the kids.

Like most pay off the mortgage and complete the huge list of things that need sorting in the house. Hopefully there'd be enough left for a holiday too. It would be life changing for us just in terms of taking away a lot of the day to day stress we have, as I imagine it would be for most people.

Buy the house we currently rent, do it up and sell it on so that we can buy something a bit bigger and more suitable, but still be mortgage free.

A holiday- we've only been abroad as a family once so it would be lovely to go again before our eldest gets too old to want to come with us!

Put a chunk in savings for the DC to help towards their first home deposits.

If there's any left save it for retirement, it's a long way off yet but at 36 my current pension pot is pathetic!

Travel the world in luxury for at least two years.

Move to a bigger house so I can have a wfh space and more space for family and friends to stay. Would still need a mortgage even with £500k up front!!

Pay off mortgage
Do up my sons house (I own it, he's 20)
Get my windows replaced
Fly first class to USA for a holiday (family are there)
Rest in savings to help kids in the future/pay for me in the future.

Pay off the mortgage, side return kitchen extension. Not sure there’d then be change for a takeaway tbh.

Pay off mortgage £90k
Finish renovation New Kitchen and Bathroom £30k
Holiday abroad £10k
Holiday home in the lakes to rent out and stay in with the balance.

Our wages would continue to pay the bills and we would up our pension %.

We're already mortgage free, I'd probably withdraw my investments, combine and buy my kids a house each.