What would you do if you suddenly received this sum?

[Yomjl]

I’ve been gifted 45k. I have an outstanding mortgage of 285 (which is 45% of house value). I do have a decent income currently (4K after tax) but have big childcare costs. What would you do?!

Bung it into premium bonds until your mortgage deal expires and then pay off a wedge at that point to access a better deal

So I'm a bit boring as a person... but I'd pay it down on the mortgage, work out the difference in monthly before and after, and every other month put the extra in the holiday fund, every other in savings/potential mortgage overpayments. But I like to get rid of mortgage asap to increase monthly money!

Oh but check the overpayment limit and come in under that when you do it!

Buy a caravan or motorhome or something like improve the kitchen.extension. Something to make life better. Holiday of a life time etc

Put it in high rate savings if your mortgage interest rate is less than the savings rate currently.

Probably pay £25000 off the mortgage and spend the other £20000 on a holiday and a big home improvement (35/75 split ish)

What is the percentage on your mortgage? I would open a saving account with a higher than your mortgage percentage if it’s possible or do necessary improvements for the house.
I would only pay off mortgage if its rate is very high and presents a problem for you.

Pay off any car loans and then whack the rest off the mortgage ASAP.

Yes, this is what I'd do.

Also make sure you put some into your pension - you'll get tax relief on it.

Open a stocks and shares ISA and start looking into a few tracker funds to spread it across over the next two years.

£5k on a nice holiday. £5-10k on any house repairs work that need doing. The rest, depends on you mortgage rate but either pay a bit off or save it all in as high an interest account as you can find until you remortgage then use it to decrease your mortgage.

If you've got a low interest mortgage rate, put it in a high interest saving account(s).

Assuming you don't need it for day to day or basic living, debt repayment or to fund a specific piece of work (ie repair to house, repair the car etc), I'd find a very high interest saving account (https://www.moneysavingexpert.com/savings/savings-accounts-best-interest) and book a nice holiday.

New kitchen. 100%.

25k off mortgage, 20k in ISA saved for large expenses

Blow it all in the slots in Vegas 😁

Give it to charity

Buy myself a new wheelchair and put the rest towards the mortgage.

Put it in my mortgage

There is no point putting it into your mortgage if you can better the interest rate in savings.

I’d invest in a garden games room - but that’s quite specific to my current wants 😂

5k in current account and put the rest in a high interest savings account and the pay of the mortgage off when you next need to remortgage ( assuming you don’t currently have a high interest rate on your mortgage).

Only if that higher interest rate is still higher after tax.

Holiday and home improvements.

I'd have a lovely holiday, but a new car, and have a new kitchen. And buy lots of handbags 😆