Help needed swapping account

Dobbibill

steveo1982 wrote: »

What is a FlexDirect and do you have a link so I can look at it? Thanks :-)

Here's a link for Flexdirect.

TCB are also paying £35 for completing a switch to FlexDirect.

redpete

steveo1982 wrote: »

What is a FlexDirect and do you have a link so I can look at it? Thanks :-)

Posts 5 and 18 of this thread then google "Nationwide Flexdirect".

Our mortgage is with Halifax. Is it worth going with them just to keep things simpler?

No. The vast majority of people have their mortgage with a different lender to their current account provider without any problem at all.

steveo1982

I do not want to use Nationwide as I have had a poor experience with them in the past.

I am going to go in to the local Halifax branch and speak to them to see what they can offer account wise.

First Direct are still looking like the best option.

Dan83

Could you not get a £1000 loan to pay your overdraft off? I've not checked current loan interest rates, but I'd be supprissed if you couldn't get a £1000 loan less then 17.9%

steveo1982

Dan83 wrote: »

Could you not get a £1000 loan to pay your overdraft off? I've not checked current loan interest rates, but I'd be supprissed if you couldn't get a £1000 loan less then 17.9%

I am trying to avoid the route of extra debt at the moment. I was going to use whatever switching bonus that comes with the account to help towards paying the OD off.

grumbler

steveo1982 wrote: »

I am trying to avoid the route of extra debt at the moment.

Why 'extra'?
You take the loan to pay the overdraft off. The debt amount remains the same - unless you rack up the overdraft debt again.

steveo1982

grumbler wrote: »

Why 'extra'?
You take the loan to pay the overdraft off. The debt amount remains the same - unless you rack up the overdraft debt again.

I didnt look at it that way as I am so used to being in the overdraft I never considered it a debt.

Could I use a 0% balance transfer card to move the overdraft over?

eskbanker

steveo1982 wrote: »

I didnt look at it that way as I am so used to being in the overdraft I never considered it a debt.

Could I use a 0% balance transfer card to move the overdraft over?

No, if you want to pay off an overdraft with a card it has to be via a money transfer not a balance transfer - details in the 'cut overdraft costs' article linked at post #2 above....

steveo1982

eskbanker wrote: »

No, if you want to pay off an overdraft with a card it has to be via a money transfer not a balance transfer - details in the 'cut overdraft costs' article linked at post #2 above....

Thanks bud will have a look at the article now. I am just paying too much monthly on overdraft interest and charges that could be used to pay off other debts.