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Original poster

I just won the ruddy lottery. But …

312 replies

Lotteryinducedturmoil · 02/06/2023 19:37

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.

OP posts:
Original poster
Lotteryinducedturmoil · 02/06/2023 22:11

@Gemstar2 thanks for the link 😊

OP posts:
VitoCorleoneOfMNMafia · 02/06/2023 22:11

musixa · 02/06/2023 20:33

Where I live you could get a terraced house outright for £120k!

This. If you are willing to move somewhere cheap, you could buy a flat or small house outright. Another option is to buy a flat somewhere cheap and rent it out for the income.

Teaslurpershutup · 02/06/2023 22:13

Is there a way round it like letting your parents claim under their name and then giving you the money so that ex can't make a claim?

Teaslurpershutup · 02/06/2023 22:14

Oh just read your post about paying it into the original account. Bummer.

Lizzt2007 · 02/06/2023 22:16

Congratulations op ! The possibilities that have opened up for you are life changing. It would be worth considering a shared ownership property as potentially after a year you might be able to save enough to purchase a share outright. You can then get uc for the rental part of it. You could also possibly be then in a position to get a small mortgage on a further share, rather than needing a mortgage for half of the purchase on top of your deposit. Uc won't consider it a deprivation of assets if you buy a home. They also won't class it as deprivation if you spend some on a holiday, or on furnishing a new home. You're allowed to spend money on living life. As others have said, it would be large gifts to people or large cash withdrawals with nothing to show that could become an issue. Enjoy your win op x

VitoCorleoneOfMNMafia · 02/06/2023 22:16

Or, pack in your job and live on the money whilst you take training or a course, so that you can get a better job and better income for life. If you don't drive, take an intensive driving course as well because a driving licence also unlocks jobs.

determinedtomakethiswork · 02/06/2023 22:17

Have you just found out now? What are your numbers?

Original poster
Lotteryinducedturmoil · 02/06/2023 22:19

@truthhurts23
It was a lucky dip online. Cost me £1.50.
I remember opening the email with the ticket numbers on and thinking, Ooh, I really like those numbers! 😊
I got all the main winning numbers apart from the lifetime ball. I would have won £10,000 a month for 30 years if I’d got that too 😬

OP posts:
Overthebow · 02/06/2023 22:20

Op this could be life changing for you. You likely won’t be eligible for UC (and shouldn’t be with that amount of money!), but you will have enough for a very decent deposit, plus enough to live on for the year. I assume with £1k per month income you work part time? Could you go full time for the year to get more income to save and also to get a bigger mortgage? It would be tough but worth it to get yourself sorted. Then go to a broker and see what you can get for a mortgage. You won’t be able to buy outright but you will have a big deposit and it will put you in a great position going forwards.

VitoCorleoneOfMNMafia · 02/06/2023 22:23

Overthebow · 02/06/2023 22:20

Op this could be life changing for you. You likely won’t be eligible for UC (and shouldn’t be with that amount of money!), but you will have enough for a very decent deposit, plus enough to live on for the year. I assume with £1k per month income you work part time? Could you go full time for the year to get more income to save and also to get a bigger mortgage? It would be tough but worth it to get yourself sorted. Then go to a broker and see what you can get for a mortgage. You won’t be able to buy outright but you will have a big deposit and it will put you in a great position going forwards.

I assume with £1k per month income you work part time?

From the very first post: I'm a lone parent & work full time on minimum wage

Nat Min Wage is really not a lot of money.

Mummyto2rugrats · 02/06/2023 22:27

Massive congratulations I would speak to the national lottery and seek their financial advise that I believe they have to offer as you will possibly need UC at the end of the one year as i assume your work situation isnt looking to change, then look to get a mortgage broker to support the purchase and fingers crossed in 1 year you'll be pretty much mortgage free 😀 amazing opportunity good luck x

Pipsquiggle · 02/06/2023 22:30

Many congratulations OP.

Please get legal advice about how /if you can protect your money from your ex.

Well done for keeping this a secret, this is very sensible.

billy1966 · 02/06/2023 22:30

Wishing you the very best.

Museya15 · 02/06/2023 22:34

Congratulations to you!😊

Overthebow · 02/06/2023 22:35

VitoCorleoneOfMNMafia · 02/06/2023 22:23

I assume with £1k per month income you work part time?

From the very first post: I'm a lone parent & work full time on minimum wage

Nat Min Wage is really not a lot of money.

Show quote history

I know it’s not huge amounts of money but a full time minimum wage is over £20k on a standard 37 hour week. That would give more than £1k a month, should be around £1440 which is quite a lot more.

VitoCorleoneOfMNMafia · 02/06/2023 22:37

Overthebow · 02/06/2023 22:35

I know it’s not huge amounts of money but a full time minimum wage is over £20k on a standard 37 hour week. That would give more than £1k a month, should be around £1440 which is quite a lot more.

Show quote history

Even after tax and NI?

OnedayIwillfeelfree · 02/06/2023 22:38

Tell the DWP you have won and they can advise you. Please don’t attempt to hide it from them.

Highfivemum · 02/06/2023 22:39

Congratulations 🎉
benefits are for people who need them. You no longer do so you don’t need to worry about claiming

Overthebow · 02/06/2023 22:40

VitoCorleoneOfMNMafia · 02/06/2023 22:37

Even after tax and NI?

Show quote history

Yes that’s after tax and NI, and taking into account student loan.

mauveiscurious · 02/06/2023 22:44

I would be asking the lottery to commute this as a lump sum, they may be open to that.

You will be able to get a mortgage on the income so good luck with you new life

VitoCorleoneOfMNMafia · 02/06/2023 22:47

Overthebow · 02/06/2023 22:40

Yes that’s after tax and NI, and taking into account student loan.

Show quote history

https://www.gov.uk/national-minimum-wage-rates If OP is under 23, she won't get as much as if she was over. At 22, OP would get £19.5k/year gross, £1.6k/month. And much less still if under 21. So £1k/month take-home is plausible on full-time hours, depending on OP's age.

National Minimum Wage and National Living Wage rates

The National Minimum Wage and National Living Wage rates: age, apprentices, previous years.

https://www.gov.uk/national-minimum-wage-rates

Blueskies13 · 02/06/2023 22:48

You won’t be entitled to uc go back to the mortgage advisor as if you buy a house with a big deposit your mortgage will be tiny. No idea about your ex but I would be tempted to keep quiet so he doesn’t know!

Whoiscomingtosaveyou · 02/06/2023 22:50

I would take the lump sum. I think (and you’d need to check with the lottery people) if it’s paid monthly it’s classed as income and might be taxable

Overthebow · 02/06/2023 22:54

VitoCorleoneOfMNMafia · 02/06/2023 22:47

https://www.gov.uk/national-minimum-wage-rates If OP is under 23, she won't get as much as if she was over. At 22, OP would get £19.5k/year gross, £1.6k/month. And much less still if under 21. So £1k/month take-home is plausible on full-time hours, depending on OP's age.

Show quote history

You’re right, OP could of course be younger than I assumed. But seeing that she’s been separated from her husband for 5 years, and has 3 young children that she says she has been saving for a house deposit for years, it’s likely she is 23+, could be wrong of course.

Overthebow · 02/06/2023 22:55

Anyway, enough of that, I don’t want to derail the thread. Just was trying to give OP some useful advice seeing as she has such a great opportunity!