We’d like to remind Forumites to please avoid political debate on the Forum.
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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Credit card or overpay mortgage?
Eloise80
Posts: 11 Forumite
This is my first post on MSE (although I've been hanging around for a while), so apologies if it seems like an obvious one!
If your fixed rate was coming to an end and your mortgage payments were due to drop by around a third as you moved onto your lender's SVR, would you a) immediately start to overpay on your mortgage, or b) clear your £1200 credit card debt first, then overpay the mortgage?
Opinions?
If your fixed rate was coming to an end and your mortgage payments were due to drop by around a third as you moved onto your lender's SVR, would you a) immediately start to overpay on your mortgage, or b) clear your £1200 credit card debt first, then overpay the mortgage?
Opinions?
0
Comments
-
Whichever has the highest interest rate.Act in haste, repent at leisure.
dunstonh wrote:Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.0 -
'nuff said - nothing to addSpace available for rent0
-
Clearing the CC debt will also help when you start looking for another deal!0
-
Thanks guys, that's pretty much what I thought!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.2K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.9K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards