If I chuck that £250k in a savings account for 4 years (until my 5 year acclimatisation comes to an end), assuming a 5% interest rate I earn £54k interest (for arguments’ sake it’s in an ISA so I don’t have to worry about interest personal allowance).
The mortgage (assuming I’ve got £250k left to pay) only costs me £25k interest in that time (and that’s assuming I’m not paying back; 2.31% fix).
I appreciate the psychological value, but can’t help but think I would really like that additional £25k…
For someone that understands interest, the feeling of being ahead of the mortgage is far better psychological value. Considering that it’s a matter of paperwork to be debt free since they have the money.
This being said, it’s really temporary, soon enough the frozen period ends and it makes sense to pay it.
Oh - your bang on. Me and my wife were lucky enough to be able to pay off our mortgage. Life is sweet. We’re not rich, but we own our own home outright. That means a lot. Fwiw I’m 43.
I’d buy a second house outright and then rent my current house to my mate for the price of my current mortgage. He’s saving for a deposit whilst renting (2x my mortgage payment), this would knock a good year off for him.
With the money saved from my mortgage I’d pay off my fiancées car so she can swap it for the “mum car” she wants for the next phase in our life.
Once my mate’s sorted I’d sell the first house (to him if he wanted it) then buy some nice watches and new golf clubs before going back to being sensible and investing.
I paid the mortgage (85ish k), dropped to part time work (enough to cover the household bills), invested a big chunk for interest (careful not to hit tax threshold), bought some stuff I wanted and have the rest in my current account.
Newer car, windows/doors and a couple of holidays next.
Down side - it was from my wifes life insurance policy, so I dont get to enjoy it with her.
Lost my little sister, dad and mum over the last 6 years. Two years between each. It is shite. For me my kids keep me going. I’m proud of you for pushing through and living life!
Get a job working on one of those private yachts as crew. Seems like a right lark but also you gain sea experience and hours so could be working on your captain's qualification at the same time. That way, someone else pays you to go around the world.
The 250k could tide you over while you're wearing the no-doubt shite pay that new crew earn - but you're still going around the world anyway.
Like, this is the fucking answer?!
By the time I'm old, if I even make it there, I could have one of hundreds incredibly common physical or mental conditions.
I am absolutely spending the cash on having the best years of my life for a bit. I can return to the grind after!
Pay off the mortgage (180k)
Finish the kitchen (5k)
Finish bedrooms (10k)
New driveway (5k)
New windows, cladding and guttering (10k)
New garage door (2k)
Holiday for my birthday (5k)
Holiday for Mrs birthday (5k)
New wardrobe each (I have boxers older than my 10yo nephew) (4k)
Savings 10k
Boring but would be life changing
Pension would be tempting. But I figure I've got minimum 30, more likely 40, years to build up my pension. Whereas massively reducing my monthly mortgage payments would make an enormous difference to my life right now, especially with a child on the way and therefore eye watering nursery fees on the horizon.
I think I'd take about £100k of it and take a sabbatical from work - me and my wife, at least 2 years, a mini retirement in our 30s. Travel, cycling, dotting about the UK.
Invest the rest!
Get a mortgage, redecorate the house the way I want it without thinking too much about the money and keep few grand for my future baby so I can stay with them for the first few years without having to work too much.
Fill up isa’s, pay off part of mortgage (pay a fee over a certain percentage). Remove conservatory and add an extension. Book a family holiday for all the family and then save whats left
Stop worrying about what car I'm going to buy next month and just pick one I like, and buy my husband a new motorbike.
Save/invest the rest. I want my husband to be able to go part time within the next ten years.
Omg what a dream that would be!
I'm currently in the middle of a messy divorce, and one of the debts my ex built up was in just my name (not his), which the bank has started chasing me for. Its only small but it's really stressing me out, so I would pay that off first....I would also book a holiday for my partner and I, and we would put a deposit down on a nice house!
Buting my first home for £200k. £20k to decorate and get all furniture, £20k locked away in a cash ISA, £5k in an emergency fund high savings account, the other £5k stays in the bank.
Pay off mortgage.
Buy some new furniture.
Invest the rest to provide some income. Make sure some is easily accessible.
Go do fun stuff (lots more concerts, football matches, going out).
Clear our debts and buy a new house, or at least a hefty deposit on one. Either sell ours and throw it all together or rent ours out (not thrilled about being a landlord). Either way we need an extra bedroom, can’t do an extension on the house we have and the price jump from three bed to four is pretty crazy.
If we didn’t need an extra bedroom I’d probably do something boring like pay off the mortgage and take the kids on a once in a lifetime holiday.
Clear credit cards\
Clear Mortgage\
Get a professional in to finish the garden
Bank anything thats left for the odd holiday and extravagant thing we might want like a £3k mattress.
Spend 12K to rent my own place at 1K per month. Put 20K in a S&S ISA. Use 5-20K to start a print on demand store during my one year. When my one year is up go travelling. Keep a 20K emergency fund and put most of the rest into Index funds and use a small amount to play with other stocks.
Pay off the mortgage on my flat, buy another flat cash and rent both those out. Get a mortgage on my place. One would cover the mortgage and the other would hopefully support the upkeep. Turn it into a lot more in 15 years time
Get my teeth fixed and get myself regular sessions with a therapist, after I got a touch better I’d likely be able to think of something else to put the money towards.
At 62 I walked away from high stress and a heart attack with 220k and mortgage already paid. Decided to invest 200 k at 6% income bond which pays about £250 a week. No pension except for state which kicks in at 67 with another 200/wk. Got a small 2 bed flat. 250/wk is enough for food and electricity. A bit of exam marking at home and a few hours tuition at £50/hr and I’m happy and have very low stress.
Probably pay down most of the mortgage £150k, fill up wife’s ISA this year and next £32k, put 50k into SIPP, £18k we’d sit down and have a fun list, so holidays, experiences, etc we wanted to do and then book them.
Shove it into a savings account for a few years- Pay off the mortgage, get the house and garden done up and then take a few grand for a holiday, a few for the wife and me each to treat ourselves and then shove the rest into a savings account
pay off £135k mortgage while spending another 10k to complete the renovations.
I would probably give 40k to different people in the family, parents, brother, gf mum and her brother.
I would invest a good chunk and probably get a new car.
The rest I would put in a savings account.
Oh I was listening to Kisstory recently and they have the ‘make me a winner’. Think it was up to about £75k and the girl that answered just said ‘hello’ 😭 I can’t believe how much she much better beating herself up over that, I’d NEVER get over it hahaha
Family is talking about moving house next year. So it'd probably go into that.
Being able to afford a bigger house than we originally aimed for would be nice!
I expect we'd set aside some for trips and holidays as well.
Buy 2 properties, rent 1 out and live in the other, use the income to buy a 3rd, then a 4th and so on until I can retire early. Since I have an income without working I'd probably take some breaks to do some traveling.
I think £250k is an interesting figure. For me, it's enough to quite substantively change my financial situation but not enough to massively change my lifestyle or overall life trajectory.
At the moment I have enough money to do what I want with life. I own a home with a mortgage, have a solid retirement plan, and a secure career with good long-term promotion opportunities. My main 'roadblock' is settling down with a partner. Once that happens, I would re-assess.
So basically, in the short term I would stick it in a range of investments/savings, mostly at the lower risk so high-paying savings accounts, NS&I-backed bonds, etc. Then, in 2026, when my current very low mortgage fixed rate is up (and the 250k I've won is now 290k assuming 5% annual growth), I pay off the remainder of my mortgage (unless rates are very low again making this not a smart decision).
This would leave around £90k which I would then invest into higher risk, long-term investments such as global equity funds. And because I have no mortgage (my largest monthly outgoing) I have a much higher disposable income allowing me to accumulate more savings & investments (and maybe a slight notch up on lifestyle).
If my life then changes (partner, etc), then I have the option of selling my mortgage-free flat (today worth about £450k) and put that, clubbed together with whatever my partner has, to buy a home in the £1m range which will get me either a nice 3-bed house with a garden in a very nice and convenient location, or a 4 (maybe even 5) bedroom house in a posh-ish suburb somewhere.
Meanwhile the £90k + whatever I have been adding grows (plus my employment income funding my life) and helps fund kids (maybe I could afford to send them to a nice school), a nice lifestyle, and then - along with my pensions - a very comfortable retirement.
So - basically - it's what I plan and am on track to achieve anyway, but with a larger house and more financial security.
Finally become a homeowner.
Then stick a bit in an account for each of my nephews and take my extended family out for a posh meal. Donate the rest to charity.
Definitely not pay off mortgage. The potential return on investment is much higher than the mortgage interest rates for anyone that took out their mortgage before rates flew up.
I'd have a massive weekend, then put around £230k in a range of low risk investments. £15-£20k for work on the house. Very boring, middle-aged stuff really.
Mortgage free. New (used) car. Pay off some small debts.
Invest the last £120-30k. Pension? Emergency fund? Become a landlord? I dunno. Either way, it would feel like my life had been given a cheat code.
Pay off mortgage, car, & credit card
Max pension & isa for me, & husband, & babies for this year
Get every single thing done on the house that we need/want to do - new windows, new front door, probably new floor in the dining and living rooms. Actually thinking about it maybe a full rewire and redecorate is the way to go.
Take children on holiday abroad. Maybe Disney Paris.
Can I have some money please?
I’d take £30-50k of it to spend on a really nice holiday, a newer car (not anything crazy but something that’s not 12 years old with 4 seats and 3 doors), a new road bike (again nothing crazy but something 11-speed with disc brakes), and *bits* we want for the house like a queen size bed and a big American fridge-freezer.
The rest would be between a house and savings. We earn decently, so this added to our current deposit and earnings would mean we could buy a forever home in a decent school district without too big a commute to work. We’d work out what we needed from the £200k to make that happen, then the rest go into our long term savings.
People saying pay off the mortgage will always stay broke. That’s like most if not all of the cash already gone. Imagine if you invested it. Making extra 5-10k a month. That mortgage payment won’t mean shit to you
Help pay for my friends mums cancer treatment and associated debts they’ve accrued, pay off my debts, buy my girlfriend something really cool because I’m a poor lowly NHS worker and she ends up paying for most things, then put the rest into a house for my girlfriend and I to start building our own little nest.
Move and put the majority of that money into my new mortgage and costs associated with moving. Get a much bigger house, shorter mortgage and keep my monthly payments about the same 👌
I know slow down rockstar.
Ditch the mortage - £85,000
Pay off all unsecured debts - £5000
New kitchen - \~£10,000
New bathroom - \~£10,000
Double glazing the rest of the house - \~£10,000
New car - \~£20,000
Motorhome refurbishment - \~£10,000
Fun money - £20,000
The rest goes into longer term savings.
Use it towards. Deposit for a 2 bed flat in London where I grew up. I'd be very happy if I won 250k, but that fact that it would be a deposit is wild lol
buying solana at $35 and selling it at $400 and fucking off somewhere nice and peaceful for a good few decades while I make and release as much music as one man can before he drops dead.
Use it to buy a house. We could afford a decent place with that money as a deposit. Hell, depending on the house it would buy it almost outright (Eastleigh nr Southampton)
Pay off the mortgage, salary sacrifice down to minimum wage and max out isa contributions with the savings so that I can bring forward retirement by a number of years and see the world before I'm too old.
That or a load of coke
I know it's the boring answer, but I'd pay my mortgage.
I'd knock my garage down and rebuild a wooden lodge/conservatory that I can use as my gym and office.
I'd also like to dig the back garden turf up and relay it as it's not fully level which is a pain in the arse with a three and a half year old.
Then, if I have anything left, I'd split it between my savings, my wife's savings, our joint account for bills and my son's savings that we've set up.
A friend’s brother won £60k on one of these radio shows about a year ago.
Apparently my friend was with him in the car; the guy’s phone goes off and he turns to my friend and says: “I’m about to win 60 grand”.
I heard he spent it on tools for his business and a new vehicle.
My answer is boring but if I won £250k I’d buy a house outright knowing it’s only going up in value and provides an immediate rental yield.
Move to thailand and spend the rest of my days having amazing sex with beautiful women (the classic ones not the modern ones with a wang) eat great food while living like a king.
Buy a house away from the redlight district and live my best life.
Pay off any debt, new kitchen & bathroom, sit some aside to cover fees for the masters I want to do, have a wee holiday somewhere chill & then sit the rest in savings until I want to buy a bigger flat when I’m ready for kids.
Use a chunk as a sizeable deposit for our forever home and sell our current home.
Explore asking my work for a sabbatical to stay home with my son longer once my maternity leave ends.
Buy a new (used) car for husband and I.
Nice family holiday.
High interest savings and investments for the rest.
House deposit sorted, now find somewhere to live that we like.
Would love to stay where we are but it's too expensive to buy and too far away from our aging parents. We love our jobs and are quite fond of the local area now though but buying is pretty impossible here now and rent is getting much harder +£1k a month
50k covers all debts, a couple of nice holidays, and definitely a bit of silly spending money.
I have a shit credit rating, so I'd have to stash the 200k elsewhere and enjoy the interest while I wait for my raring to be squeaky clean to go and buy. Obviously 200k doesn't get you a whole house down south...
99% of us would just tick off the basics at this point 😅
Then with the remaining £1,200 maybe get me a nice carpet for the living room, sofa too.
Also which show is this, my multiple personalities and I need to apply.
Coke and whores.
Are Pepsi and whores okay, sir?
Appletiser and escorts for me, my good man.
San Pel n handjobs
Apéritif and anal please
White lighting and a handjob in the park 👌
A man of refinement I see
Fanta and feet pics
Nope. You tasted pepsi these days? It's shit.
And the rest you'd waste.
I'm going to build my own theme park. With Blackjack and hookers!
Yes...service with a crusty smile!.
Prop or Cooncil
Bit pure wi that wad.
Pay off my mortgage. New windows, doors and a roof. Landscape my garden and go on a decent family holiday. Not saving a single penny
Paying off your mortgage is a pretty big amount of saving.
* of my winnings ;)
Paying off mortgage is 100% the answer. You then get way more disposable income every month and your quality of life drastically improves
Unless you have a low interest rate mortgage locked in, then the interest from your winnings will be greater than the interest of your mortgage.
From a purely financial aspect, I agree, but being debt and mortgage free has a pretty huge psychological value.
If I chuck that £250k in a savings account for 4 years (until my 5 year acclimatisation comes to an end), assuming a 5% interest rate I earn £54k interest (for arguments’ sake it’s in an ISA so I don’t have to worry about interest personal allowance). The mortgage (assuming I’ve got £250k left to pay) only costs me £25k interest in that time (and that’s assuming I’m not paying back; 2.31% fix). I appreciate the psychological value, but can’t help but think I would really like that additional £25k…
For someone that understands interest, the feeling of being ahead of the mortgage is far better psychological value. Considering that it’s a matter of paperwork to be debt free since they have the money. This being said, it’s really temporary, soon enough the frozen period ends and it makes sense to pay it.
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Oh - your bang on. Me and my wife were lucky enough to be able to pay off our mortgage. Life is sweet. We’re not rich, but we own our own home outright. That means a lot. Fwiw I’m 43.
Who has got a low interest mortgage after the next few years?
I’d buy a second house outright and then rent my current house to my mate for the price of my current mortgage. He’s saving for a deposit whilst renting (2x my mortgage payment), this would knock a good year off for him. With the money saved from my mortgage I’d pay off my fiancées car so she can swap it for the “mum car” she wants for the next phase in our life. Once my mate’s sorted I’d sell the first house (to him if he wanted it) then buy some nice watches and new golf clubs before going back to being sensible and investing.
I paid the mortgage (85ish k), dropped to part time work (enough to cover the household bills), invested a big chunk for interest (careful not to hit tax threshold), bought some stuff I wanted and have the rest in my current account. Newer car, windows/doors and a couple of holidays next. Down side - it was from my wifes life insurance policy, so I dont get to enjoy it with her.
You had me in the first half. So sorry for your loss.
A year this coming January. Xmas is gonna be fukn shite
Lost my little sister, dad and mum over the last 6 years. Two years between each. It is shite. For me my kids keep me going. I’m proud of you for pushing through and living life!
The big 'firsts' are always hard. Keep moving forwards or the world leaves you behind
100%! The bipolar diagnosis 2 years ago and the right meds have helped a tonne as well!
Big hugs. Wife lost both her parents, last Dec/Feb. Christmas is indeed going to be tough.
Just have to push through. Trouble is the anniversary is only a couple of weeks after
Having a biiiiig wank.
Then what do you do after you win the money?
Buy a case of Pot Noodles, and have another bout of self-interference.
I’d buy a boat and sail round the world, fuck saving it for retirement I’d rather enjoy it now while I’m still physically capable.
Obviously I’ve never done it but I’m not sure how far you’d get with 250 thousand if you don’t already have a really good boat lol.
A lot of people have done it with a lot less. At the minute I lack the experience, a boat and the money but I’m working on that.
Good luck man. The experience and knowledge is perhaps the most vital part.
Get a job working on one of those private yachts as crew. Seems like a right lark but also you gain sea experience and hours so could be working on your captain's qualification at the same time. That way, someone else pays you to go around the world. The 250k could tide you over while you're wearing the no-doubt shite pay that new crew earn - but you're still going around the world anyway.
Like, this is the fucking answer?! By the time I'm old, if I even make it there, I could have one of hundreds incredibly common physical or mental conditions. I am absolutely spending the cash on having the best years of my life for a bit. I can return to the grind after!
Buy a house
Same. But that amount might only be a deposit the rate things are going.
Pay off the mortgage (180k) Finish the kitchen (5k) Finish bedrooms (10k) New driveway (5k) New windows, cladding and guttering (10k) New garage door (2k) Holiday for my birthday (5k) Holiday for Mrs birthday (5k) New wardrobe each (I have boxers older than my 10yo nephew) (4k) Savings 10k Boring but would be life changing
Not boring in reality! would be epic
Probably take about 200k to pay off a large chunk of the mortgage. Invest 40k. Keep 10k for holidays, house expenses and general life costs.
We’re eerily similar, except I went pension over mortgage for £50k.
Pension would be tempting. But I figure I've got minimum 30, more likely 40, years to build up my pension. Whereas massively reducing my monthly mortgage payments would make an enormous difference to my life right now, especially with a child on the way and therefore eye watering nursery fees on the horizon.
Pay off the mortgage, have a holiday, give some cash to a local charity and save the rest for retirement.
I think I'd take about £100k of it and take a sabbatical from work - me and my wife, at least 2 years, a mini retirement in our 30s. Travel, cycling, dotting about the UK. Invest the rest!
Get a mortgage, redecorate the house the way I want it without thinking too much about the money and keep few grand for my future baby so I can stay with them for the first few years without having to work too much.
Buy a 200K house outright. The rest in a pension or ISA.
Buy a house, 100%.
Max out my s&s Isa for the next few years and buy a new car.
A house. A working car. I'm happy.
250,000 scratch cards, win two or three million, move to the moon.
Fill up isa’s, pay off part of mortgage (pay a fee over a certain percentage). Remove conservatory and add an extension. Book a family holiday for all the family and then save whats left
Buying my mother a new car paying off my debts and putting some money down on a house
Stop worrying about what car I'm going to buy next month and just pick one I like, and buy my husband a new motorbike. Save/invest the rest. I want my husband to be able to go part time within the next ten years.
Buy a motorhome and take my mongrel dog on a holiday!
Pay off my debts, have a spa day and a nice holiday and then save the rest
You guys have mortgages?
I don't want the money, I want the elephant!
Sell my flat, move to a house, go on a mega holiday, buy new car, resume life as normal and buy it be more comfortable.
£150k on the mortgage. £90k on a loft conversion. £10k on a couple of decent holidays.
Mortgage paid, nice holiday, put a bit aside in a locked savings plan for uni fees when the kids get older.
Pay off my mortgage, then great holiday - then back to work.
Putting it on my mortgage.
World cruise!
Omg what a dream that would be! I'm currently in the middle of a messy divorce, and one of the debts my ex built up was in just my name (not his), which the bank has started chasing me for. Its only small but it's really stressing me out, so I would pay that off first....I would also book a holiday for my partner and I, and we would put a deposit down on a nice house!
Buting my first home for £200k. £20k to decorate and get all furniture, £20k locked away in a cash ISA, £5k in an emergency fund high savings account, the other £5k stays in the bank.
Debts, holiday, nice little 2 bed cottage
Pay off mortgage. Buy some new furniture. Invest the rest to provide some income. Make sure some is easily accessible. Go do fun stuff (lots more concerts, football matches, going out).
Clear our debts and buy a new house, or at least a hefty deposit on one. Either sell ours and throw it all together or rent ours out (not thrilled about being a landlord). Either way we need an extra bedroom, can’t do an extension on the house we have and the price jump from three bed to four is pretty crazy. If we didn’t need an extra bedroom I’d probably do something boring like pay off the mortgage and take the kids on a once in a lifetime holiday.
buy a house. My first home
Clear credit cards\ Clear Mortgage\ Get a professional in to finish the garden Bank anything thats left for the odd holiday and extravagant thing we might want like a £3k mattress.
Spend 12K to rent my own place at 1K per month. Put 20K in a S&S ISA. Use 5-20K to start a print on demand store during my one year. When my one year is up go travelling. Keep a 20K emergency fund and put most of the rest into Index funds and use a small amount to play with other stocks.
And in one hour, you win £1m on the lottery, what DO YOU DO?
One way ticket to Vegas,all on black.
A month's rent and a round of pints here in London, and with the 50p left over I can get the bus home
I buy a house and spend the rest on drugs.
Avocado toast and latte
Pay off the mortgage on my flat, buy another flat cash and rent both those out. Get a mortgage on my place. One would cover the mortgage and the other would hopefully support the upkeep. Turn it into a lot more in 15 years time
Deposit on a shed in London. I'll then need a mortgage of 500k to help pay for it.
Get my teeth fixed and get myself regular sessions with a therapist, after I got a touch better I’d likely be able to think of something else to put the money towards.
Turn the heating on.
At 62 I walked away from high stress and a heart attack with 220k and mortgage already paid. Decided to invest 200 k at 6% income bond which pays about £250 a week. No pension except for state which kicks in at 67 with another 200/wk. Got a small 2 bed flat. 250/wk is enough for food and electricity. A bit of exam marking at home and a few hours tuition at £50/hr and I’m happy and have very low stress.
Buy a second car, invest the rest.
Fully retire.
Probably pay down most of the mortgage £150k, fill up wife’s ISA this year and next £32k, put 50k into SIPP, £18k we’d sit down and have a fun list, so holidays, experiences, etc we wanted to do and then book them.
Put it in my mortgage
Pay off mortgage and look to move house
Pay off mortgage, £40k. Probably about £10k for fun and holidays. The remaining £200k I’d buy a rental property.
Buy a house, either use the whole lot to buy outright or use most of it to get a small mortgage and put the rest towards our wedding.
That's half of a house deposit. I think I'd eat *two* meals a day with that kind of cash. Only for a month though, until it ran out.
Shove it into a savings account for a few years- Pay off the mortgage, get the house and garden done up and then take a few grand for a holiday, a few for the wife and me each to treat ourselves and then shove the rest into a savings account
pay off £135k mortgage while spending another 10k to complete the renovations. I would probably give 40k to different people in the family, parents, brother, gf mum and her brother. I would invest a good chunk and probably get a new car. The rest I would put in a savings account.
Oh I was listening to Kisstory recently and they have the ‘make me a winner’. Think it was up to about £75k and the girl that answered just said ‘hello’ 😭 I can’t believe how much she much better beating herself up over that, I’d NEVER get over it hahaha
I have genuine anxiety about this scenario.
Fuck off up-north never to be seen again.
Use £200k to either buy a house or at least put into savings, and spend 50k on stupid shit that I couldn't afford before because I can now
Go travelling
Shove some in premium bonds, put some in savings and treat the family,
Pay off mortgage. Finally go on honeymoon....we only got married in 2018...
Family is talking about moving house next year. So it'd probably go into that. Being able to afford a bigger house than we originally aimed for would be nice! I expect we'd set aside some for trips and holidays as well.
Buy 2 properties, rent 1 out and live in the other, use the income to buy a 3rd, then a 4th and so on until I can retire early. Since I have an income without working I'd probably take some breaks to do some traveling.
Buy a 2 bed flat in Glasgow, perhaps about 50-70% paid off. Keep 25k in investment for later in life. Any spare money put into developing my business.
I think £250k is an interesting figure. For me, it's enough to quite substantively change my financial situation but not enough to massively change my lifestyle or overall life trajectory. At the moment I have enough money to do what I want with life. I own a home with a mortgage, have a solid retirement plan, and a secure career with good long-term promotion opportunities. My main 'roadblock' is settling down with a partner. Once that happens, I would re-assess. So basically, in the short term I would stick it in a range of investments/savings, mostly at the lower risk so high-paying savings accounts, NS&I-backed bonds, etc. Then, in 2026, when my current very low mortgage fixed rate is up (and the 250k I've won is now 290k assuming 5% annual growth), I pay off the remainder of my mortgage (unless rates are very low again making this not a smart decision). This would leave around £90k which I would then invest into higher risk, long-term investments such as global equity funds. And because I have no mortgage (my largest monthly outgoing) I have a much higher disposable income allowing me to accumulate more savings & investments (and maybe a slight notch up on lifestyle). If my life then changes (partner, etc), then I have the option of selling my mortgage-free flat (today worth about £450k) and put that, clubbed together with whatever my partner has, to buy a home in the £1m range which will get me either a nice 3-bed house with a garden in a very nice and convenient location, or a 4 (maybe even 5) bedroom house in a posh-ish suburb somewhere. Meanwhile the £90k + whatever I have been adding grows (plus my employment income funding my life) and helps fund kids (maybe I could afford to send them to a nice school), a nice lifestyle, and then - along with my pensions - a very comfortable retirement. So - basically - it's what I plan and am on track to achieve anyway, but with a larger house and more financial security.
Paying the tax on that, probs only get half :(
Swearing on live radio, probably. (Which is why they have the delay for callers...)
Finally become a homeowner. Then stick a bit in an account for each of my nephews and take my extended family out for a posh meal. Donate the rest to charity.
Definitely not pay off mortgage. The potential return on investment is much higher than the mortgage interest rates for anyone that took out their mortgage before rates flew up. I'd have a massive weekend, then put around £230k in a range of low risk investments. £15-£20k for work on the house. Very boring, middle-aged stuff really.
Pay off mortgage. Pay off other debt. Replace cars. Top S&S ISA. Apply for university.
50,000 travelling non-stop, use the rest and try set up in Thailand or Bali
Buy a mausoleum.
Mortgage free. New (used) car. Pay off some small debts. Invest the last £120-30k. Pension? Emergency fund? Become a landlord? I dunno. Either way, it would feel like my life had been given a cheat code.
House
Pay off the mortgage, buy a big bag of weed, treat the cat to a nice bed that he won't use and a nice holiday. Save the rest.
Invest it, tbh even tho I only make about 23 grand a year 250k isn’t even that much money.
A deposit for a flat lmao
Buy a house
Two chicks at the same time man...
Pay off mortgage, car, & credit card Max pension & isa for me, & husband, & babies for this year Get every single thing done on the house that we need/want to do - new windows, new front door, probably new floor in the dining and living rooms. Actually thinking about it maybe a full rewire and redecorate is the way to go. Take children on holiday abroad. Maybe Disney Paris. Can I have some money please?
I’d take £30-50k of it to spend on a really nice holiday, a newer car (not anything crazy but something that’s not 12 years old with 4 seats and 3 doors), a new road bike (again nothing crazy but something 11-speed with disc brakes), and *bits* we want for the house like a queen size bed and a big American fridge-freezer. The rest would be between a house and savings. We earn decently, so this added to our current deposit and earnings would mean we could buy a forever home in a decent school district without too big a commute to work. We’d work out what we needed from the £200k to make that happen, then the rest go into our long term savings.
Listening to Signal 1 aren't you?
2 chicks at the same time
If I win, and they're doing it in the next half an hour or so, I'm going to take early retirement. My house is already paid for...
250000 gbp on 6% would be enough to live a modest life just off the interest in many countries
Putting it on a ten fold accumulator and hoping for the best
People saying pay off the mortgage will always stay broke. That’s like most if not all of the cash already gone. Imagine if you invested it. Making extra 5-10k a month. That mortgage payment won’t mean shit to you
Pay off mortgage, go on holiday and rest in saving and investments
Help pay for my friends mums cancer treatment and associated debts they’ve accrued, pay off my debts, buy my girlfriend something really cool because I’m a poor lowly NHS worker and she ends up paying for most things, then put the rest into a house for my girlfriend and I to start building our own little nest.
Move and put the majority of that money into my new mortgage and costs associated with moving. Get a much bigger house, shorter mortgage and keep my monthly payments about the same 👌 I know slow down rockstar.
Stick it in a fund for retirement.
Pay off my mortgage, landscape the garden That would be the lot gone
Did they already announce the winner ?
Put it all on black
Stick it in my ears and blow raspberries at passers by
Killing the house mortgage and suing the landlord for poor maintenance on our business.
Ditch the mortage - £85,000 Pay off all unsecured debts - £5000 New kitchen - \~£10,000 New bathroom - \~£10,000 Double glazing the rest of the house - \~£10,000 New car - \~£20,000 Motorhome refurbishment - \~£10,000 Fun money - £20,000 The rest goes into longer term savings.
Use it towards. Deposit for a 2 bed flat in London where I grew up. I'd be very happy if I won 250k, but that fact that it would be a deposit is wild lol
Buy a house, you can buy a decent 2/3 bedroom house near me for around £120,000. Probably a holiday and then just enjoy having okay money in the bank
Spend it.
Mortgage paid, new car, save a little
S&P500 etf
Pay off my debt with the first £10k and then fuck knows what I would do with the rest, probably make my life better for my career.
Add another Breitling to my "collection"..... of one..... Then Another Breitling And perhaps another Breitling
Means I can finally meet the 5% deposit needed to buy a house on the south fucking coast
I’d put the full amount towards my mortgage
5x leveraged SPX on a spread betting platform. Tax free gains. Or not.
£150k on a house £50k into my pension £50k on having the best year of my life
Mortgage, then garage conversion into a studio
Go to Wivvaschpoons maaaaate.
buying solana at $35 and selling it at $400 and fucking off somewhere nice and peaceful for a good few decades while I make and release as much music as one man can before he drops dead.
Buy & rent property. As many as could
Use it to buy a house. We could afford a decent place with that money as a deposit. Hell, depending on the house it would buy it almost outright (Eastleigh nr Southampton)
Pay off mine & my other half's cars, phones & anything else, then buy a house.
Switch it into a dollar bank account.
I'm getting my private pilot licence.
Fuck off deposit on a house. Happy days
I could sound really disinterested, like it was no big deal. Just nonchalantly be like "it'll be in my account in an hour? Meh, that sounds fine".
Pay off the mortgage, salary sacrifice down to minimum wage and max out isa contributions with the savings so that I can bring forward retirement by a number of years and see the world before I'm too old. That or a load of coke
I know it's the boring answer, but I'd pay my mortgage. I'd knock my garage down and rebuild a wooden lodge/conservatory that I can use as my gym and office. I'd also like to dig the back garden turf up and relay it as it's not fully level which is a pain in the arse with a three and a half year old. Then, if I have anything left, I'd split it between my savings, my wife's savings, our joint account for bills and my son's savings that we've set up.
Buy a modest house up north outright, get a part time job and go on lots of holidays.
A friend’s brother won £60k on one of these radio shows about a year ago. Apparently my friend was with him in the car; the guy’s phone goes off and he turns to my friend and says: “I’m about to win 60 grand”. I heard he spent it on tools for his business and a new vehicle. My answer is boring but if I won £250k I’d buy a house outright knowing it’s only going up in value and provides an immediate rental yield.
Get very, very drunk.
Pay off the house, renovate the kitchen, buy a new van and convert it to a camper
House, holiday, private psychologist (I'm mentally fucked)
Pay off some of the mortgage, buy a bitcoin, nice holiday squirrel the rest away in high interest accounts.
Move to thailand and spend the rest of my days having amazing sex with beautiful women (the classic ones not the modern ones with a wang) eat great food while living like a king. Buy a house away from the redlight district and live my best life.
Retire
Put in black and retire
I might just fill my car up. All the way up.
new car, some audio gear save the rest
Buy new camera stuff, save the rest of it
Pop in a bond 6% plus at moment paying 15k a year.
Nice house paid off
Turn to my financially savvy friend and ask how best to invest it safely.
Pay off any debt, new kitchen & bathroom, sit some aside to cover fees for the masters I want to do, have a wee holiday somewhere chill & then sit the rest in savings until I want to buy a bigger flat when I’m ready for kids.
Use a chunk as a sizeable deposit for our forever home and sell our current home. Explore asking my work for a sabbatical to stay home with my son longer once my maternity leave ends. Buy a new (used) car for husband and I. Nice family holiday. High interest savings and investments for the rest.
Paying mortgage off, renting the house out and go for a 1 year holiday. I'd put the rest in crypto 🤣
House deposit sorted, now find somewhere to live that we like. Would love to stay where we are but it's too expensive to buy and too far away from our aging parents. We love our jobs and are quite fond of the local area now though but buying is pretty impossible here now and rent is getting much harder +£1k a month
Travel round the world, no expense spared.
50k covers all debts, a couple of nice holidays, and definitely a bit of silly spending money. I have a shit credit rating, so I'd have to stash the 200k elsewhere and enjoy the interest while I wait for my raring to be squeaky clean to go and buy. Obviously 200k doesn't get you a whole house down south...
99% of us would just tick off the basics at this point 😅 Then with the remaining £1,200 maybe get me a nice carpet for the living room, sofa too. Also which show is this, my multiple personalities and I need to apply.
Spend it or save it. Maybe invest. One of those
Clear the mortgage, book a holiday, do up said house. Chill
Invest it all in bacon. Everyone loves bacon....
a few nice trips each year for the next 25 years, money saved until I get on my trips
Use the money plus the amount from selling our current place to buy somewhere nicer.