Low Value Mortgages

KrazyFool

im certainly no expert either. Have been brought up to buy what i can afford or save up till you can buy it. Thats just the thing ive never been in debt, always pay in full & havent missed a payment well actually i did miss on 2 occasions by 1 or 2 days....oh well i guess im permanently black marked for life....:rolleyes:

dougk_2

I too am not going to stooze anymore - well i didn't really anyway - all i done was used the card to pay for a uni course (part time weekends) and for vets bills (long story!).

I had the money to pay these "debts" back anytime, however I thought why should I if I am getting a free loan and just transfered the balance from one 0% deal to another over 2 years until the majority had gone after paying the minimum payments.

I think the days of stoozing are getting towards the end of their life and unless you get high credit limits is it worth the hassle of transferring a balance every 6 months (especially now some charge a 2% fee on the transfer).

Credit companies certainly work in an odd way. But they want you to borrow so they make money when you cannot pay it all off!

What I was suggesting is you could use the mortgage in the same way if the rate you paid on the mortgage was less than the rate you would get for the £3k in an ISA. You do have to be strong willed and not willing to spend the money you have "saved".