help required with maths

mrseyes

can someone please help me out here;

I have £3164.00 at 0% to clear with morgan stanley until may and then it will be their standard rate.

Virgin is offering BT at 0.9% interest until september 06, with £35 (capped) handling fee.

Nationwide is offering BT 0% interest for 9 months with £50 (capped) handling fee.

which one will be the cheaper option to clear Morgan Stanley balance with?

thankyou

Careful_ly

Is the Nationwide a repeat offer, or something you applied for recently, as not available on their site now?

So you might have to go down the Virgin route.. at least their minimum payments are very low

grumbler

This very largely depends on your plans to clear (not to clear?) the balance.

If the balance remains about the same 0.9% is about £3164*0.9%/12=£2.40 p.m. £2.40*5+£35=£47 - about the same as £50 with Nationwide. In this case Nationwide is better IMO, although I am not aware too of their 0% offer for BTs ...

mrseyes

grumbler wrote:

This very largely depends on your plans to clear (not to clear?) the balance.

If the balance remains about the same 0.9% is about £3164*0.9%/12=£2.40 p.m. £2.40*5+£35=£47 - about the same as £50 with Nationwide. In this case Nationwide is better IMO, although I am not aware too of their 0% offer for BTs ...

Thanks: Sorry, it is the NatWest that is offering 0% BT and not Nationwide my apology.