To bank or not to bank

AngelsMadv

Good afternoon all,

I thought I'd put down my dilemma after reading all the useful advice on this forum. I like my research but when it comes to money, let's just say I've not been the best over the years.

I've had an offer of £84k accepted on a home I'm looking to buy and I'm looking for a 85% LTV deal. My broker, who is now nowhere to be seen (I'm assuming he's on holiday) got me an ITL deal that I thought was the Dog's B*x at 3.49% Tracker (+BR) + 5.99% cap for 2 years. I nearly wet myself when offered this but unfortunately it wasn't to be as I have a default from Vodafone from January. I paid this straight away when they rang me as I didn't even know my DD had been returned (my fault I know). They still defaulted me and this, I'm told, is why I was refused the mortgage.

I've now gone through the process with the Halifax on a 4.44 (+BR) deal (this has passed the credit check) but there in lies some terms. So, for all out there I have a few questions.

1) Do I open an account with Halifax to get this rate or use my current account with Barclays to pay it at 0.2% more?
2) If I do open the account do I keep both open and just fund £1000 a month from one to the other?
3) I have £1300 OD with Barclays left, this is interest free (I'm a graduate). Do I have to pay this off straight away if I no longer salary fund that account (Graduate additions)?
4) Vodafone agreed to remove the point but after 4 weeks I finally got a response through them from the QA department saying it had been recorded correctly and they wouldn't remove it. I have 3 contracts with them and have been with them for 9 years and never missed a payment (until this one). Do I phone them back and give them a rollicking or send a letter?

Sorry for all the questions, I may transfer some of them to other boards but would appreciate any help.

Have a great day, everyone.

:beer:

AngelsMadv

Shameless bump :

Can anyone help?

JA1000

How do you negotiate 0% with Barclaycard without defaulting?

AngelsMadv

JA1000 wrote: »

How do you negotiate 0% with Barclaycard without defaulting?

I phoned them and told them that I was getting nowhere with the card. It took about 5 attempts. The first 4 times I was told to default for 3 months and then they would speak to me. I wasn't happy doing this as I didn't want to incur even more debt. I finally got through to my account manager who set it up there and then on the phone. Mayhap I was just very lucky?

Does anyone have any help for my query?

Thanks.

Conrad

1)- its up to you (the quesation is akin to 'should I take up dancing or should I buy a dog' - only the questioner would be able to answer as only they know thier lifestyle and preferences / attitude to possible paper work hassle

2) yes

3) Ask Barclays!!!!!! How the heck would any of us knowthis - there are thousands of different accounts that come and go over time

4) "Do I phone or send a letter"? - ok thats like me asking shall I walk to work today or get the bus, on a forum. I suppose post is more lreliable is its special delivery.

Not being spikey to you but maybe think about things better before you ask.
Such vague things as whether to open a bank account are akin to asking you to tell me whether I should eat pizza or curry tonight - you would have no meaningful answer as you aren't me and aren't able to second guuess which meal I will prefer tonight.

Cheers

4)

Joe_Bloggs

Open up a reward current account with Halifax. There is no need to close your Barclays accounts. I transfer all of my bills that I would make by standing order to the Halifax and then pay them from there. With multiple payments you can make £100 appear like 10 x £100 to exceed the £1000 of money into the account each month.This is easily done with faster payments in to and out of the account .
An overdraft with the Halifax can be very expensive. It costs £1 a day if you are overdrawn by £1 and the same even up to your overdraft limit. It makes a lot of sense to operate the account in credit and to collect the £5 each month and get the 0.2% bonus.
J_B.