We'd like to remind Forumites to please avoid political debate on the Forum... Read More » This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Mortgage/Stoozing Timing

unionjack81 · 2008-10-24 07:07:53

Hi All, I am currently in the process of my first stooze and hope to have £10k within the next month. I aim to pay this off my mortgage which is sitting at a rate of 5.38% (Nationwide). I'm not sure if this question should be in the stoozing or mortgages but..... My question is will having £10k on credit cards affect a…

Options

Comments

opinions4u Posts: 19,411 Forumite

30 October 2008 at 5:41PM

Careful.

1) 0% deals will become less common over the next few months (imho). You could get lumbered sooner than you think with putting it back on the mortgage.
2) A 3% BT fee for a 6 month 0% deal = 6% annual rate = more than mortgage.
3) Credit card debt will reduce the amount you can borrow on a mortgage.

0

This discussion has been closed.

★ ★ ★ Meet your Ambassadors

Mortgage/Stoozing Timing

Comments

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free