Calling all you night owls part 2

penguin83

Right all - Im going to have to be a lightweight and go to bed early tonight.

See y'all tomorrow - enjoy x x

Mupeteer

Sweet dreams, penguin. See you tomorrow.

Herewegoagain

Hiya guys, anyone still around:D

LilacPixie

OOO penguin i never even noticed i was close to 1k of posts :eek:

Right the story so far..... I have huge amount of debt, including mortgage, as listed in my siggy. I have 1400 a month to throw at them including the mortgage.

Mortgage £404 a month 6.3% 53k outstanding and I can only overpay 3% without penalty.

Car HP £276 PM with 12 payments to go. 34% apr but overpayments are charged at £34 each. Interest was front loaded too so effectivly I just have capital to repay anyway so not saving anything by overpaying.

OH Loan £134 9.7% £2800 to go. once again front loaded interest and 21 payments to go. just clearing the capital now.

Home improvment loan £144 per month £9800 outstanding 10.2% apr. Unsure if overpayments are possible. this loan is variable rate so if interest rates go sky high then this one could too.

Sofa HP 620 outstanding on 3 years interest free £20 a month.

Next store card £800 ish outstanding 26.49% apr

These add up to £978 ish which leaves us over £400 to put somewhere but question is where?? Plus come next year there will be over £700 to put somewhere because car loan will be finished. The obvious answer is to the home improvment loan once next is clear which it should be in the next few weeks. If the home improvment loan does not allow overpayments then what do I do with the extra??

pamril1

I'm off to bed now.
Goodnight nightowls

xxx

Mupeteer

Still here.

Night pam.

Mupeteer

I would clear the Next card first as it has highest APR at the moment. Then look at other stuff.

Mupeteer

Check t&cs for home improvement loan, and if that allows overpayments, that would definitely be next.

Herewegoagain

LilacPixie wrote: »

OOO penguin i never even noticed i was close to 1k of posts :eek:

Right the story so far..... I have huge amount of debt, including mortgage, as listed in my siggy. I have 1400 a month to throw at them including the mortgage.

Mortgage £404 a month 6.3% 53k outstanding and I can only overpay 3% without penalty.

Car HP £276 PM with 12 payments to go. 34% apr but overpayments are charged at £34 each. Interest was front loaded too so effectivly I just have capital to repay anyway so not saving anything by overpaying.

OH Loan £134 9.7% £2800 to go. once again front loaded interest and 21 payments to go. just clearing the capital now.

Home improvment loan £144 per month £9800 outstanding 10.2% apr. Unsure if overpayments are possible. this loan is variable rate so if interest rates go sky high then this one could too.

Sofa HP 620 outstanding on 3 years interest free £20 a month.

Next store card £800 ish outstanding 26.49% apr

These add up to £978 ish which leaves us over £400 to put somewhere but question is where?? Plus come next year there will be over £700 to put somewhere because car loan will be finished. The obvious answer is to the home improvment loan once next is clear which it should be in the next few weeks. If the home improvment loan does not allow overpayments then what do I do with the extra??

Hiya lilac,

Don't know much, but when I was asking about overpayments on carloan, was told by someone that It wouldnt come off cpital just add up as cerdits, saving me nothing. told to put extra into high interrest savings until I had enogh to clear the loan IYKWIM:D

Herewegoagain

Hiya mupet hoz you