We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Credit Card Or Mortgage ?

Madcaine9 · 2015-01-11 11:16:18

Hi, I am going to need to get my hand on £30,000 soon, I can do this with 5 credit cards that I have. I also have a mortgage with £85,000 equity in it so I would hope I could maybe borrow the £30,000 against this. My question is what would be the best option for me, I mean pay the least interest. I am very confident I can…

Comments

redpete Posts: 4,738 Forumite

11 January 2015 at 8:41PM

madcaine9 wrote: »

I think I will go mortgage route it will take a little longer to sort out but will be one payment a month to make rather than 5

Paying maybe 4 times as much in interest and quite possibly significantly more per month to service the minimum payments should worry you far more than the convenience of having one instead of 5 payments a month.

loose does not rhyme with choose but lose does and is the word you meant to write.
0