Credit card onto mortgage???

Peco_2

Got about 5k on 0% cards that I can not seem to get down. I just keep transferring and can't see an end to it. Would anyone recommend extending mortgage to pay them off and then cutting them up??

milliemonster

No absolutely not, unless you address your spending and budgeting, this will the start of a spiral of debt that will see you ending up like the rest of us!!!

The only reason you cannot get your £5k down is because what you are paying off it each month you are then spending on it again, right?

The only 'end to it' is to cut the cards up, you should never use a 0% BT card for purchases anyway, and draw up a budget plan to pay them off, then stick to it.

If you consolidate onto your mortgage, you will just end up running up another credit card again, trust me

Ames

Don't do it! If something goes wrong and you can't pay your credit cards you have loads of options. If something goes wrong and you can't pay the higher mortgage repayments then you could lose your home.

SunderlandBlackCat

If you enter the details of your card debts into the calculator at http://www.whatsthecost.co.uk/snowball.aspx it will produce a report that shows you what adding them to your mortgage will cost you.

Are you really willing to pay that much when all you really need is to organise paying your existing debts a bit better.