Get yourself a 'Mortgage Pig'

Stardust77

This is a brilliant idea! I've dusted the inch think cobwebs of the piggy bank and can hopefully put it to good use.

Can I just ask... how does quidco work?

FlyingDodo

Hi, I'm new to this board, I've been reading this thread and thought what a great idea it is. I'm gonna get myself a pig and start saving, but was just wondering how often do you overpay - do you pay off small amounts say £50, or do you wait until you have a few hundred to pay off!? Dodo

homeaway

Stardust77 wrote: »

This is a brilliant idea! I've dusted the inch think cobwebs of the piggy bank and can hopefully put it to good use.

Can I just ask... how does quidco work?

You pay a basic fee which i think is five pounds ???and then every time you buy something from one of the suppliers ( john lewis, play there are loads of shops) through the quidco you get a certain percentage off which goes to your quidco acc. For example if you wanted to buy a sofa from john lewis instead of going to the john lewis site direct you would sign in via quidco and click on john lewis and make your order there, this way you would be entitled to a percentage back on your quidco acc. I hope i explained it ok.. If you look on the quidco site it explains it better than i can

teapot2

FlyingDodo wrote: »

Hi, I'm new to this board, I've been reading this thread and thought what a great idea it is. I'm gonna get myself a pig and start saving, but was just wondering how often do you overpay - do you pay off small amounts say £50, or do you wait until you have a few hundred to pay off!? Dodo

Hello FlyingDodo & welcome to the board. Can tell you what we do re overpaying though others may do things differently? We have 2 mortgage pigs, a cat and a cow all accepting different change. When there is £10 of 20p's or 50p's etc then I pay it into the joint account when I'm shopping and phone in an overpayment by debit card. Don't see the point in waiting till it adds up to more so am afraid I don't personally wait until its £50 or whatever although its normally £20 or £30 min as I collect £2 coins and they add up quickly - love getting those .

Different mortagages also have different restrictions about how much can be overpaid and how often so check yours first. Ours is with Northern Crock and we're overpaying as much as poss before the fixed rate ends on 1st Nov :eek: . Its amazing how much the change adds up - we try and remember to check pockets and wallets each night. The one that takes the longest to reach a bankable amount are of course the 1p& 2p animals but I banked £10 from those the other day and it all helps :T

Good luck with yours
Teapot

gallygirl

homeaway wrote: »

You pay a basic fee which i think is five pounds ???and then every time you buy something from one of the suppliers ( john lewis, play there are loads of shops) through the quidco you get a certain percentage off which goes to your quidco acc. For example if you wanted to buy a sofa from john lewis instead of going to the john lewis site direct you would sign in via quidco and click on john lewis and make your order there, this way you would be entitled to a percentage back on your quidco acc. I hope i explained it ok.. If you look on the quidco site it explains it better than i can

Just to say , don't be put off by £5 fee - you don't actually 'pay' the £5, it gets deducted from your payments so you don't fork out. I've had £1400 over 2 yrs, which is the equivalent of 1k per annum on salary :T. There are other cash back sites but I find quidco best. However, worth checking HERE to see what gives you the best payout.

FlyingDodo

Thanks teapot2, we are in the process of changing to a new deal, so will def check out the overpayment details, I went to our local recycling centre today and bought myself a demijon for 50p, as I had already started collecting the coppers, so have now instructed the other half to empty pockets on a daily basis!!

kezza12

hi flyingdodo me and the hubby put pound coins into our pig we never spend them if we get them in change and we never miss them which is weird because there's always about £70 to a £100 in there every month which we bank monthly into the mortgage......makes you wonder where that £100 went before we started doing this (she say's looking around at all the usless tat lying around:rolleyes: )

Lexxi

I emptied and counted out my mortgage cat a day or so ago and even though there is over £40 in there, v good for me as I don't buy many things so don't usually get change, there was only enough to bag up £1 in 2p's!!! I've cheated and added to the pound coins so that I can bag a bit extra :rotfl:

coldstreamalways

My mortgage seems insurmountable, my monthly payments are £1100 and it's a 35 yr job (current balance £210,056)! I have a pig, a full ISA and a savings account. I have to pay £10 to make an overpayment so I'm aiming to raise £6000 by Dec this year and pay that off then. It will still be a gnat's p!ss in an ocean though *sigh* so depressing.

Milly1974

Hey coldstreamalways,

You should know the MWF (hehe) motto by now. Every little helps!

You will make a dent, however small. Good luck