I have a dream...to be a MFW

ajmoney

beachie wrote: »

I would think about paying off your loan in one go. At 7.5% this is higher than any savings account and you would save money.

Can you overpay as much as you like?

I was wondering this earlier, I would need to take money from my stocks and shares ISA as I am currently building my cash one up again after raiding it. If I pay it all off then I would have to pay a settlement figure but if I were to pay the amount minus one monthly payment just before the end of this month (the next payment goes out on the 29th) then I don't think I have to pay the settlement charge. This was actually going to be my next question as I have £19K+ in my stocks and shares ISA and I know the interest I am making on this is probably less than I am being charged on the loan. I think I may be making a call about this tomorrow and let's face it, the earlier I do this the sooner I can OP my mortgage and reach my MFiT take 3 goal

ajmoney

A question. I bought something for £18.00 and had to pay £3.25 in postage fees but quidco have only tracked the purchase price even though I had to pay the postage. I know I shouldn't complain as it is a bonus getting cashback anyway and I guess they can get around it by giving cashback on the purchase price rather than total price but does anyone else think it is a bit weird?

edinburgher

This was actually going to be my next question as I have £19K+ in my stocks and shares ISA and I know the interest I am making on this is probably less than I am being charged on the loan

Not being cheeky (tell me off if I am), but you don't get interest on investments, you get potential capital growth and additional perks of shareholding such as dividend payments etc.

How healthy are your returns? Remember the old adage about buying low and selling high - if your ISA is languishing, you may be losing money to 'cash out'. It might be better waiting for it to recover (but we obviously aren't qualified to give *advice* or tell the future :rotfl: )

On the other hand, if your investments have grown, it might be a good time to realise some of the gains...

I know I shouldn't complain as it is a bonus getting cashback anyway and I guess they can get around it by giving cashback on the purchase price rather than total price but does anyone else think it is a bit weird?

Cashback is usually on the purchase price (sometimes the purchase price minus VAT (if you're unlucky)).

ajmoney

Sorry, I worded it wrongly. My return is quite stagnant at the moment. If I use my ISA to pay the loan off I would be left with £14259.92 so not entirely sure what I should do. I am seeing a financial advisor next week so I think this is a question I need to ask.

edinburgher

That was going to be my next question, sounds like you're covering all your bases

ammonite

ajmoney wrote: »

A question. I bought something for £18.00 and had to pay £3.25 in postage fees but quidco have only tracked the purchase price even though I had to pay the postage. I know I shouldn't complain as it is a bonus getting cashback anyway and I guess they can get around it by giving cashback on the purchase price rather than total price but does anyone else think it is a bit weird?

They don't always pay cashback on postage just the purchase price in some cases. You might want to ask them about it but I'm sure it'll be part of their T&Cs!

I'd pay off the loan with the money in the ISA if it were me. Then I'd have a fresh start to think about my mortgage with. However, I know nothing about stocks and shares so feel free to ignore me:D

ajmoney

Been for a day out to see my mum today. Didn't end up bringing a flask with me as it didn't fit in my bag so got a cup of tea on the station as it was so cold (£1.60) bought train ticket the other day and mum treated me to lunch so a low spend today. Also ran my idea of Christmas presents by her and she gave me some better suggestions so pretty much know what I am getting everyone now. Will make a start on it next week.

Also had a bizarre conversation that she took very well, I now know her and my dad's wishes if they die and she will also tell my sister. There have been a few heated discussions in DHs family and I am trying to avoid that.

ammonite

As morbid as it might be it is good to know these things when people are still with us as it is horrible to second guess what they want when they are gone.

Ooh you've got me thinking about Christmas again!

ajmoney

Just swum another 2 miles, I think I might be mad.

Posting the mobiles off today plus the swimming costume I bought as the size is too small also had an email from Quidco saying they have paid some money into my account so I will transfer that into my OP account if it is there when I get home

ajmoney

Off swimming in half an hour although not looking forward to it as much today, my body is very tired but all I have to remember is I have 2 days off after this.

I am at the hairdressers at lunch so I am going to treat myself to some lunch out after my efforts this week. I will also be checking in for cashback as I haven't been there to do it yet.