Paying Mortgage on Credit Card....!

jinkster

I was reading an article fairly recently regarding paying a mortgage on a credit card.

I have plenty of funds to pay the mortgage out of my account but what about paying it on say a Tesco Clubcard to earn points?

Has anyone done this?

ehlo

I think most providers would treat this as a cash advance?

I think the article referenced here recently required people to withdraw cash from their card first

lisyloo

Lenders will let you pay on credit card as a method of last resort i.e. you are in arrears.
They don't normally want to do this because they have to pay fees, but if it's the only way someone can pay then they will accept it.

Another way is to do an SBT but usually there are fees of around 4% for this. So would only make sense if you had an SBT card (balance xfer to your current account) at 0% and your mortgage rate was greater then whatever the balance transfer fee was. I am assuming you can borrow the money for 12 months, if not you need to pro-rate it.
For example if you have a 0% SBT with 4% fee then you'd need an 8% mortgage for it to be worthwhile and even then you'd only break even.

Most lenders won't take CC payment as standard.