stoozing to pay mortgage 22 April 2010 at 3:53PM in Stoozing: free cash from credit cards 5 replies 3K views

Stuey1980

Hello,

I want to stooze to lower my mortgage using a 0% on spending card. Cant I just pay off some of my mortgage up to my credit limit using my card? Or do I need to Accumulate the money saved from spending?

Thanks,

Stu

CannyJock

How will you repay the card at the end of the 0% period?

An offset mortgage is the ideal vehicle for stoozing.

Have a read at the full guide on stoozing to see if it makes sense:

http://www.stoozing.com/g_stooz.htm

Stuey1980

To be honest repayment after 12 months wouldn't be a problem. Or 0% balance transfer a few times. Would it count as spending if I used the card to pay off some of the mortgage though?

CannyJock

If the mortgage company accept credit card payments, which most don't normally unless you're in arrears, then it counts as a purchase. You can try speaking to your mortgage company and blagging it of course.

Long-running thread on it on the stoozing site http://www.stoozing.com/forum/YaBB.pl?num=1218039089

Stuey1980

Thanks, I will check it out.

Littlesusie_2

couldn't you just use the 0% spending card for all your shopping,petrol,clothes, council tax etc and then put aside the money you would have spent . Once you have accumulated enough send a cheque to the mortgage company. ok, it's not as simple as just using the card but if the mortgage company won't accept credit cards then I can't think of another way around it.