Cheap as Chips

davidib

I am in the fortunate position that I only need to borrow £25-30K to purchase a house. What is the cheapest deal I can get? Could I put this on a credit card for instance?

Thanks David

Debt_Free_Chick

I think you'd need at least 2 credit cards. One of which needs to be a SBT card, as you'll need cash. Timing could be an issue, unless you are very certain of the completion date and very certain of getting cards with a combined sufficient limit.

Whilst you should get introductory offers at 0%, what will you do when the offers expire? How quickly could you repay £30k? Would you not be better simply getting a short term fixed or discounted rate and overpaying?

davidib

I was thinking more of transfering my balance. Say from an overdraft to a credit card, say the 3% card for the life of the debt?

cheghead

davidib wrote:

I was thinking more of transfering my balance. Say from an overdraft to a credit card, say the 3% card for the life of the debt?

Good idea if you can get that amount of credit limit?

Compensationitis

Is that 3% APR or 3% per month and which credit card company is it because they all make it up as they go along. Get real and go for a mortgage.

payless

Compensationitis wrote:

Is that 3% APR or 3% per month and which credit card company is it because they all make it up as they go along. Get real and go for a mortgage.

I love the way some say 1.9%pa, but its only for 4 months and a 2% balance transfer/. Chq fee , but get away without quoting a comparable / crediable APR

Compensationitis

MPPI.... ARGGHHH!!!

Good grief, who are the underwriters?

I agree with your assessment of the UK's answer to debt, more debt by the back door.