Inheritance and mortgages

DAB1209

Deleted for privacy

Mojisola

I would go every time for repaying the mortgage. I don't think you can cost in money the peace of mind you'll get from being mortgage-free.

Keith585

Martin has an article HERE

zzzLazyDaisy

Mojisola wrote: »

I would go every time for repaying the mortgage. I don't think you can cost in money the peace of mind you'll get from being mortgage-free.

I agree, its the best thing I ever did.

And don't forget that this also frees up the money that you are throwing at the mortgage each month, so you can rebuild the savings pot if you wish.

andynewbie

i know there is a site that has IFA's that will answer your questions for free and you can remain anon, i found it quite useful for questions on IHT when my mother passed away, its here totalinvestor.co.uk, ask a question on the message board or use the ask a question feature

arrizel

Hi
I was in a similar situation a few years ago although my inheritance was £50,000 I actually did the opposite to what has been suggested and invested in property.
Through educating and improving myself am now in a position to look to retiring in 2-3 years time (and I'm 30 btw) as I will be in a position financially whereby I don't have to work to live.
Money isn't everything but it all depends on what you're looking to achieve now and in the future.
Anything is possible.....it's just a case of knowing what you want to achieve.

DAB1209

Thanks for all the suggestions. Arrizel thats great you have done so well for yourself.Had considered property but the idea was gone as quick as it entered my head!

arrizel

Hi there. Yeah I pondered on the idea for a year before actually doing anything. Have learnt so much on the way and I actually enjoy it now
Like I said, it all depends on what you're aiming to achieve.....me personally....was financial security but there are a few ways of achieving that but found property was the easiest to get to drips with.