Balance Transfer / Too Many Cards, Apply for another?

Dobbibill

This is a tricky one - you, your Mum & sister are all living in the house.
You are paying the mortgage whilst your Mum is paying household bills. Your sister doesn't pay anything?

How long do you see this arrangement lasting? Are you going to live there for the foreseeable future? Will your Mum get a mortgage in the future?

Sounds to me like there are a lot of questions and a bigger picture we know little about. That's cool, we don't need to know every detail but not giving you food for thought on the bigger picture wouldn't be fair on you.

I get that you want to be paid back for the windows but my question is, if you are going to continue paying the mortgage then you are paying yourself back to then be charged more for it in the long run.

Depending on the long term view of the house/mortgage/arrangement - you may be robbing yourself.
I guess what I'm saying is think through your options for mid/long term as well as the short term.

Vxs

No my sister doesn't pay anything, she is in full-time education.

Unfortunately this will be for the foreseeable future, as my Mother is 60 this year and with age not on her side getting a mortgage on her own and being able to pay all bills to keep this house isn't going to happen on her wage/age/health etc

The way I see it my fixed rate has come to an end, I need to decide on a new fixed rate or keep with a variable rate from Virgin Money but as I need to get a new deal anyway, would there really be much fee's or extra charges incurred to lending 5k more when reevaluating my mortgage this June/July?

The 5k isn't just to pay me back, its also a safety net to have in the bank as with most people I like to have some funds available to me for when the car breaks down or you don't get paid as much one month or any other unforeseen bills.

At the moment after paying my bills/mortgage and paying this credit card back I have little to no spare cash and I am not saving at all.

A year ago I was in a position to save each month, not the case now too many unforeseen events and periods where I have had to help out financially for my family.

This thread got way off track, good to put my thoughts down in writing though helps you think through them.

steevio_uk

Candyapple wrote: »

The reason I added in this card is because MBNA are known for giving higher limits .... all you need to do is call them and ask them to split your limit from your other MBNA card to your new card and that way the transfer would be possible.

This is interesting, something I never knew.

I have a 10.3k limit on my MBNA (which is just currently offering a standard existing customer 12 month/3.5% fee) and won't get a new card near that limit I don't think.
So If I get a new MBNA card interest free for 39 months or whatever, but only around £1200, you're telling me I can get that knocked right up to 11k or so, all on the 0% 39 months?!