HELP - pay off 130k mortgage

neverdespairgirl

steve171 wrote: »

Thanks for all your replies, it is a bitter-sweet pill to swallow, much rather have them alive, it certainly makes you realise that money isnt everything.

Absolutely, of course you would swap the money in an instant for her parents back, but you can't do that.

We came to see that our only option was to make the best use of OH's inheritance that we could, and that wasting it or regretting that it exsited wouldn't bring back the dead.

Trying_to_be_good

Very sorry for your loss.

As your wife isn't working, she can 'earn' interest tax-free, so make sure if you're saving some over and above the £6k you can put into cash ISAs before 6 Apr and the £7.2k after 6 Apr (to use up both yours and your wife's allowance in each of the two years) that it's in her name. You can get fixed rates above 6% at the moment. I think the government have also kept the 10% tax band for savings on interest, so she has that amount she can receive in interest on top of her personal allowance. (Apologies I don't know how much this actually is - someone else will!)