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What would you do?

Phaelok
Posts: 127 Forumite
Hi all,
Around eight months ago I bought a kitchen through MFI on an interest free loan deal they were offering at the time. The amount is approx £4900 over 48mths. The first repayment is due next month and I have approximately £3000 set aside with the original intention being to make a lump sum reduction to the amount owing. As it is interest free I was considering putting the money aside in my account and top up my ISA to nearly £6k and gradually put as much money aside to put a deposit down on a property (eventually!!!!). I can easily afford the monthly repayments of around £100 a month and despite such low rates on ISA's generally, was wondering what you would do in my position.
Any advice is greatly appreciated
Thanks all and Happy Easter!
Around eight months ago I bought a kitchen through MFI on an interest free loan deal they were offering at the time. The amount is approx £4900 over 48mths. The first repayment is due next month and I have approximately £3000 set aside with the original intention being to make a lump sum reduction to the amount owing. As it is interest free I was considering putting the money aside in my account and top up my ISA to nearly £6k and gradually put as much money aside to put a deposit down on a property (eventually!!!!). I can easily afford the monthly repayments of around £100 a month and despite such low rates on ISA's generally, was wondering what you would do in my position.
Any advice is greatly appreciated

Thanks all and Happy Easter!
0
Comments
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Well if the MFI loan is definately interest free and you can cover the monthly payments I would put your money into a savings account/ISA and accrue interest.Proud to be dealing with my debts - DFW No: 712
03/09/09 - DEBT FREE AT LAST
Racing Hypno to Save - £10/£50000
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