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Best use of £50k
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I don’t really get the mentality of not wanting to spend cash on a costly renovation but being happy to saddle yourself with a mortgage which will cost you. Undoubtedly more now interest rates are on the up.Investing in a pension is also a good idea but not if you are borrowing to do it which you will be.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
Save £12k in 2026 Challenge £12000/£6000
365 day 1p Challenge 2026 £667.95/£220
Click on this link for a Statement of Accounts that can be posted on the DebtFree Wannabe board: https://lemonfool.co.uk/financecalculators/soa.php0 -
Ask yourself this (honestly)... do you really need to blow £100,000.00 on making the house a bit more shiny-shiny?
Popping £100k in a pension in the 40s can mean retiring 5-10 years earlier than planned.2
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