We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Where should I put £100k for 9/10 months?

Halle71 · 2014-01-22 12:19:59

Hello My parents are giving us £100k that is intended to pay off the majority of our mortgage. However we are tied into a discounted product that ends on 30th November and the Early Repayment Fee is equal to what we would save so it is not worth us paying it off until then (although we can overpay by £500 per month without…

Comments

Halle71 Posts: 514 Forumite

23 January 2014 at 11:51AM

IronWolf wrote: »

Be careful, if your father dies within 7 years of the gift it can still be liable for inheritance tax.

The tax burden will diminish as time passes and it's actually coming from my mum's account as she is in better health. Unfortunately my dad's not great which is one reason I am getting this money before we need it.

0