Advice on large inheritance sum Hi everyone, we are set to receive around £100k in inheritance imminently and I was looking for some advice on how best to utilise it. 

We have a goal of purchasing a new house in around 5 years. There is £190k left on our current mortgage, and our house is worth around £250k. With our current salaries, we would be able to borrow a mortgage worth around £550k. Ideally we're looking at houses in the £650-750k range, which I think would only be possible if we managed to pay off our current mortgage and sell our house, using the return as a deposit on the new one.

Would dropping the entire £100k into our mortgage be a good idea, or would there be a more effective option in trying to save and invest, with the goal of buying a house in 5 years time?

Any advice appreciated.