Nationwide Mortages - Overpayment Withdrawal

garethp_2

I'm about to be debt free on credit cards for the 1st time in years so I'm planning on getting a 0% credit card and spending all my cash on it and transfering the money into the mortgage.

How easy will it be for me to reclaim the funds from my mortgage as this will save me quite a nice little amount over the years as my mortgage is now a SVR 2% above BR

Thanks

Gareth

Thrugelmir

Withdrawing cash on a credit card normally incurs a fee in the region of 3%. Additionally 0% cards only last for a short period of time.

Why not break the habit of a lifetime and wean yourself off credit cards entirely.

Now you have more money in your pocket start overpaying your mortgage.

Current base rate is at an emergency level for good reason. Don't assume its the norm. Every month a rate rise becomes more likely.

garethp_2

Instead of spending cash I'll spend it on the card and the cash I had put into the mortgage sorry explained it wrong!!

my previous interest rate was 5.29 so anything below this is payable and probably more