advise on o/p mortgage payments

southend

I have a 10yr fixed repayment mortgage at 4.98% which ends Feb ends in 2017, then we have a further 10yrs left ( 2027).
Owe as of today £ 63,350.47. Want to end mortgage at least three years early, need to borrow less when deal is over.

Want to O/P £20.00 - seperate standing order, ring up Woolwich and state that this is to be paid off the Capital only.
Owe £67.53 on c/card £62.53, can clear it.

Wondering if i would be able to use c/card as a loan
i.e out £50.00 in my normal bank account, ring Woolwich, tell them one off payment off Capital again ( now and again).

Set up to clear c/card within 20 days later, so no interest occurs on that.

I know this sounds daft, but interest goes on a daily basis as might have it in my account 2 weeks later, not on that day so to speak.

Any advice would be really welcome

jwil

I might be wrong, but wouldn't this be a cash advance on your credit card? In which case I believe that most cards charge interest straight away - you don't get the interest free period with them. I would double check this with your CC provider. If you have a card where you can transfer money to your bank account, then this might be a balance transfer where you would pay a fee each time you did this.

Unless you can be certain that you won't get any fees/interest charges from the credit card, then I would just wait that extra couple of weeks and make the overpayment to your mortgage directly from your own wages.

Good luck!