Stoozing and Offset Mortgage

ptee

Hi, new to Stoozing after clearing the last of my visa debt this month, so bear with me if I've got anything wrong.

Me and the wife have been looking at getting an offset mortgage later this year as from next year I should be getting some good amount of savings back from share schemes at work.

Having read on here about stoozing I thought would it worth while having a go at stoozing some cash into a savings account to offset against my mortgage also? I'm thinking an IF offset account and creating a savings jar for the stoozed cash so it's seperate from my own savings.

My question is how much on average do you think you can stooze and for how long?

ie. is it realistic to get £20k and keep it stozzed for 1yr? 3yrs? 5yrs? 10yrs?
obviously i understand this would need more cards opening every 6-9 months say but are there enough cards to keep this going for decent length of time?

Also my wife has given up work now, is she likely to be able to get a credit card? is it a good idea for us to each apply for 1-2 cards at a time or apply in joint names?

Also any advice/warnings on doing this would be great!

Thanks :beer:
Pete

Clariman

Hi Pete

It really depends on your credit rating and your earnings. My Stooz pot has certainly been over £20K consistently for the last 3 years, but stoozing is getting harder as lenders have started charging BT fees. On the stoozing website we have a couple of polls which might help your thinking.

How Big is your Stooz Pot?

What percentage of your salary is your stooz pot?

Clariman