another credit card or loan which one!

dreams_R_free

glitzy wrote: »

Have just got van ins for £285 from Lloyds through quidco, which offers £120 - how long does it take to get through from Lloyds to quidco.

Hi Glitzy

Really pleased you got the insurance via Quidco but just wanted to tell you that mine took a couple of months to be paid out to me. It was tracked, then validated within a couple of weeks but I kept checking to see if had been received by Quidco and it took ages before it was! It does come eventually, so just be patient.

glitzy

Hi Impomdasap

I did wonder how long it would take, so i have emailed quidco, as i missed out on phoneboxdirect - cos if its longer then 1 mth you cannot query after then, so i have got my query now!!
anyway thanks x

glitzy

Just had a thought maybe it took awhile, as they had to receive the No Claims Certificate from the other insurers.- maybe im just making excuses for them!x

Robflh

Hi glitzy

I hope you have had or will have a great holiday. Can you do a post after you have had your holiday and bring me up to date on what is happening.

glitzy

Hi Robflh

Sorry have not replied sooner, but only just found user cp that i can check old threads, have mentioned you a few times to other users that need help.

2 words come to mind CREDIT CRUNCH!!!!!!!:mad: Guess what i have had to do this week re-mortgage!!! Have gone for fixed with woolwich 5.29% for 3 years & please dont shout i have taken out a loan - i know, but the int i will pay is £600 over 3 yrs which is similar to paying the fee for 0% bt, plus i was getting turned down when applying for cards, dont know why!! checked credit score whilst on it, changed from fair to good- bizarre!!!

have now got budget planner set up, but need to put it into practise more often.

my friend has come up with an idea that i might be considering, cashing in my endowment, paying off outstanding cards, the monthly fees to them, using to pay off extra on the mortgage monthly - i know i have to cover the endowment part of the mortgage but you save £15000 of int if you pay extra, endowment £30000, but not sure if that is what i will get at the end could be a shortfall- what am i saying will be a shortfall!!!

anyway thats enough for now, i could go on & on - & its not all about me!!!
hope your ok x

Gemmzie

If you post over on the mortgage board there's a couple of endowment experts who'll be able to let you know if it's worth cashing it in now. We're looking at that too.

Robflh

Hi glitzy

It is nice to here from you again. Can you post an up to date SOA. Take what things cost you per year and divide it by twelve and put all your outgoings as a monthly amount. If you pay for something annually you still put down the monthly amount.

I am not an expert but as I understand it, endowments take time to make money and if you have been paying money in to one for about half of its total time, you are not likely to get back much more then you have put it. You could end up with less.

It is the terminal bonuses that can make a big difference. If they are close to their mature date, it might be better to leave them.

I recently surrendered an endowment policy, which had been running for about 14 years. It was not a very big one and I received £1,600. That was only a little bit more then I had paid in.

I am in the latter stages of renovating/tarting up my home. Last year I had a large reduction in the credit limit for one of my credit cards and I found myself with no money to finish off the house. Hence the reason for surrendering the endowment policy.

Anyhow, I have got to go, I have been in bed most of the day with a cold or flu or god knows what. Because of the number of times I have had to blow it, the bridge of my nose is my nose is red raw.

PS. Is the mortgage a straight repayment or an endowment.

glitzy

Hi Robflh

hope your feeling better now. Cant beleive you had 1 of your cards reduced i would hate that to happen to me, anyway here is an updated soa - my mortgage is mainly repayment with part interest only cos of my endowment that i have

Incomings

both wages after tax £2445
tax credit £42
ch benefit £72

total £2559

Outgoings

mortgage £730
endowment £40.65
sky/broadband £43
life ins £12.76
gas/elect £100
water £8.71
tv licence £11
pet ins £7.97
council tax £129.
bt £11
gym £29.75
swim lessons £14.50

total £1138.34

credit cards/loan - debts

m&s 3.9% for life £4044 bal £101
if 4.9% for life 2083 bal £42
mint 4.9% for life £3191 £71
a&l loan 7.7% £5000 £155

total £369

average monthly

building/contents ins £9 cheap cos of £33 back from quidco
mobiles £40
going out £160
petrol £155
car/van tax ins mot etc £55 cheap cos of £210 back from quidco
school trips/ violin lessons £10
prescription £6.85
haircuts £6.25
pocket money £14
pet food £9
food/toiletries/makeup etc £355
cinema/books/cd £20
hubbys work lottery £32 i know this is high but 1 word - syndicate!!
home lottery £8
papers £26
hols/bdays £130
clothes £20

total £1056.10

overspend -£4.44 a month - not bad but it is all going to change in june as main fixed rate mortgage is up for renewal, will have to pay extra £70 a month. plus have not put budget planner properly into action yet - ie putting away a month for car tax ins/ hols etc. am waiting for june as no surplus yet!!

food & petrol do change sometimes lower/higher i just went by last months, anyway i will post with confirmed soa in june as hopefully i will not have to pay mortgage payment for 1 month due to swop over & left over balance once nationwide have been paid, as i would have paid 2 mortgage payments by then, if you know what i mean. trfn x

Robflh

Hi glitzy

How much is the mortgage for at the moment and what is the property worth if you sold it today.

Assuming the mortgage was an endowment type, have you tried to get compensation for being miss sold an endowment mortgage. That is what I did.

I will have a good look at the SOA tonight.

glitzy

Hi robflh

my mortgage is for £116,000 - £86000 repayment & £30,000 endowment, property worth about £250,000, but needs loads doing to it (the house that jack built). i did claim for mis-selling my endowment & received about £4300.

my other problem is i might have gone with the wrong re-mortgage as i have noticed hsbc are matching your old mortgage or there abouts, am i too late to change, have just sent back forms for solicitors, i might of saved £1000 over the course of 3 years! trfn x