I just won the ruddy lottery. But …

[Lotteryinducedturmoil]

I just won the ruddy lottery 🤩
£10,000 per month for a year 🤩
But, I’m not sure if I can spend it!?
I have been desperately saving for a deposit to buy my first house for myself and my 3 young daughters for years so this is beyond bloody amazing.
I’m a lone parent & work full time on minimum wage. My wage only just covers my rent so I get Universal Credit to top up my earnings.
I can’t work out if I can use all of the money to put towards a house deposit. Would that be classed as deprivation of capital?
I have been googling my fingers to the bone and can’t find anything out other than I may be expected to live frugally on it for ever more.
My head is going around in circles and getting nowhere.
The first £10,000 monthly amount will take me over the threshold of the savings limit of £16,000 meaning that I won’t qualify for universal credit any longer.
Will I be able to get a mortgage with just my (ever so slightly over) £1,000 a month wages?
I had spoken to a mortgage broker recently and they said I’d be able to get a small mortgage for a shared ownership property with my current wage plus UC benefits/ child benefit etc.
Does anyone have a clue how it all works?
I also have a complete twat of a husband who I have been separated from for 5 years but am still married to. Will he be able to get his nasty hands on any of it?
Any advice would be most helpful.

What I'd do.

Over savings limit for universal credit upon receipt of first 10k deposit. Cancel universal credit claim.

Your income from working £1,000 plus universal credit (replace this amount from the 10k ... for eg. £700 so you continue with your usual income of £1,700 and bank into a highest you can get instant access savings account the rest ... say £9,300 if you topped your wage up with £700.

After 1 year you have £111,600 plus interest earned of say 4.75% and use that to put 100k down as deposit on beautiful house .... keep £11,600 to pay legal fees and moving in costs, new furniture etc.

This expenditure would NOT be deprivation of capital.

Move in, be happy and when your savings go under £16 again, you open a new claim for universal credit.

Before anyone moans .... you're saving the tax payer a fortune in rent they don't have to pay in universal credit for a year and if you buy a cheaper house, your mortgage will be minimal.

Enjoy your win and spend it wisely. Buy a home, an appreciating asset xx

You won’t be able to receive UC once you’ve had your first payment. You’ll be expected to live off that aswell as save for a house deposit. I can’t see that using it for a deposit is deprivation of capital. Ask on your UC journal what the rules are around deprivation of capital. Is there no guidance somewhere?

Update:
Thanks for everybody’s advice at the time, it was a massive help to me as I couldn’t tell a single soul outside of here. It’s been a real rollercoaster working it all out on my own.
I eventually got a clean break divorce, saved every penny in various saving accounts/ISAs, to maximise interest rates. Lived very frugally off the interest and my paltry wage for 18 months. Saved the entire £120,000 which I used as a deposit for the house that I have just moved into with my daughters.
It’s tiny and an ex-council place that needs ALOT of work, but it’s ours! 😊. My mortgage is fairly manageable, the pink carpets are gone and we are free to have pets if we choose to. A happy ending ❤️

Oh what a lovely update

Omg love this so much. Delighted your ex didn’t get any and that you have your home. Brilliant - well bloody done because you have made great choices with your good luck.

Oh I love this . You sound very well deserving. Apparently something like 90% of Lottery winners end up bankrupt which is insane - you had a very sensible approach and wish you every happiness in your new home ! 🏡

Lovely update @Lotteryinducedturmoil! Congrats on your new home, wishing you and your girls every happiness there, you sound like you massively deserve it!

I love a happy ending and how lovely to hear someone win something that they truly deserve!

❤️❤️❤️

Yay! This is brilliant news OP!!! No advice other tha keep it quiet!!!!! but agree with trying to understand the legal position re your ex

Oh what a beautiful update!

So tremendously happy for you, huge congratulations x

Lovely update

Good news, 💐🍷🍰✔️

Fantastic news! Wishing you every happiness in your new house 🏠 :)

Lovely update! Well done OP on saving it and now having a house for you all congratulations and enjoy your new home 🏡 off to buy a lottery ticket now....

What a great update! Enjoy your new home 🏠

Oooo congratulations! I am not a financial advisor but I would continue working but come off UC, use a portion of the 10k to live off ( to replace UC, and make life a bit comfier, get rid of debt) then save all of the rest, say 8/9k a month for a house.

You need to keep quiet to your husband about the money and seek legal advice. I don't know where you stand with that :(

@Lotteryinducedturmoil

firstly, MASSIVE congratulations!!!
secondly, what a fabulous update. So happy it worked out for you and your DC.
thirdly, and nothing to do with the thread, was it a lucky dip or did you choose your own numbers?

Ive never met anyone who’s won before to ask!!!

Still keep it a secret as if you didn’t declare it he can still go after it

How bizzare to be worrying about the benefits you claim when you’ve won something so big. The taxpayer shouldn’t be supporting anyone with such a windfall

@AlleyRose
It was a £1.50 lucky dip. When I saw the numbers, I remember thinking that I really liked the look of them. Obviously my lucky numbers 🤣

Wow, congratulations! So great to hear a good news outcome, and really well done having the strength of character to save it for your and your daughters’ future rather than frittering it away. I hope you are very happy in your new home.

You really need to read the whole thread, this is an update, you're way off the mark.

Oh wow!!!! Lucky numbers indeed!! What a fabulous story 😊

Off to buy a ticket 😂