I dunno if I'm a wannabee! Quite comfortable - what to do for the best, lump sum vs mortgage

snickpan

I have a £600k home with £180k mortgage, and a £600k BTL with a £125K mortgage, and a lump sum of £150k.  It may all just be down to personal preference, no 'best plan' as such - do I pay off as much BTL mortgage as I can, or just enjoy my lump sum.
If I pay off the BTL, I'd get that money back when it sells anyway, it's 5.74% fixed for another 3 yr, no immediate plans to sell. I like the thought of not paying the £595 mortgage payment each month.  I can overpay £499 each month before I get charges.
I feel so unfocused, not happy with the 5.74% int on the BTL mortgage, but I get 4.74% int on my savings.
Am I missing an obvious plan, or is it just much of a muchness.  Maybe overpay a bit of the BTL just to tick a box, and get on with spending my savings?  I'm 60, time is ticking 

Mark_d

If I was you my first thought would be to investigate paying this money into pension - that was you could claim back income tax. 

ManyWays

I would probably overpay the max on your personal mortgage (probably 10%, but 20% with Natwest), plan to pay an extra 499 a month to the BTL, stick as much as you can into your pension and still get tax relief (you are presumably a higher rate tax payer), use up this years ISA allowance and then contemplate what is left, probably planning to repeat most of these next tax year.

Oh and clear any debts you have, including car finance.