taking cash from cc to bank account???

guinnes.s

house is £210.000 i if put down 25% i get a 3.89% int rate on the mortage,if less then 25% it goes up to 5.29%.
i am just trying to get the best rate if i can as i do have ready 20% for deposit,but sound like be better off with the 5.29% then having to deal with the ccs and loans after.

withnell

guinnes.s wrote: »

house is £210.000 i if put down 25% i get a 3.89% int rate on the mortage,if less then 25% it goes up to 5.29%.
i am just trying to get the best rate if i can as i do have ready 20% for deposit,but sound like be better off with the 5.29% then having to deal with the ccs and loans after.

Once you have the mortgage, the rate won't just reduce after you've paid off enough to get to 25% - what rate will the cash be on your credit card? Do they charge a cash withdrawal fee? That way we can calculate the actual cost of each method

guinnes.s

yes there are cash withdrawal fee and the cards that i have don't do the superbalance transfer.
the difference in the monthly repayment without the 25% is about £160 more,and yes i definitely will not touch the ccs.
thank you for the quick respond guys .
my only other dilemma now is fix or tracker mortgage??? but i guess i have to start e new Thread in the mortgage section of the forum.

YorkshireBoy

guinnes.s wrote: »

yes there are cash withdrawal fee

There's probably a limit to the amount of cash that can be drawn as well. Many have 'advance' limits of 50% of your credit limit, but I've seen one recently (can't remember which, sorry) that limited the cash balance to 20% of the credit limit...for obvious 'responsible lending' reasons.

You're going to need either a very large limit (and deep pockets) or a 0% SBT card.

CannyJock

Rate tarting 10k when you can afford a £ 210k property shouldn't be a huge hassle.

A few 0% deals back-to-back and making over-payments to the card to bring it down (or even better stick the over-payments in a bank account and slow-stooze a bit of interest on it while the card is 0%) sounds doable to me.

Usual advice, check your credit reports and make an assessment of your own credit rating, history of credit, electoral register, dormant cards to be cancelled.

Then look for a card that allows funds to be transferred directly to your bank account (http://www.stoozing.com/sbt.php), or if you can find a way to put the deposit through as a purchase (http://www.stoozing.com/purchases.php) without it counting as a cash advance.