paying mortgage payments with Credit card

worto03

Hia,

After seeing this spread all over the news this morning I'm interested to know if I can do this for the cashback, I pay £600 a month for my mortgage will all lenders (specifically the A&L as I'm with them) allow payments in this way.

Just wondering if it's worth getting another cashback card that pays a decent rate long term then paying it off each month. I currently have an egg money card which I've been using for a couple of years for all spending (instead of switch) and pay off each month for the cashback.

I'e not looked at this before because I thought A&L would only accept a direct debit\standing orer type arrangement

Cheers,
worto.

apk1

I dont think this would be possible, the only way would be to pay over the counter, which the card companies would treat as a cash withdrawal, and charge you the relevant fees/rip off interest rates !

AndrewSmith

Lenders will genenrally not allow you to pay mortgage payments by credit card.

This is because you are technically borrowing to make the payment.

Gray0103

worto03 wrote: »

I'e not looked at this before because I thought A&L would only accept a direct debit\standing orer type arrangement

I was thinking the same, with a cashback card I could be looking at close to £350/year.

Sooler

http://business.guardian.co.uk/story/0,,2192624,00.html
"The poll found that people using a credit card to pay a mortgage usually withdrew cash to pay into the building society or bank. But many housing associations allowed tenants to use the card to pay rent as if they were making a purchase."

To pay a mortgage on a credit card you would have to make a cash withdrawal.

[Deleted User]

in america they let you pay direct with credit cards, no wonder america is bankrupt.