Paying it forward

Radsi

edited due to identifiable info

Starmummy

happy new diary.

My aunt has a dog called Marmite :rotfl: :rotfl: :rotfl:

Bets of luck with everything

Take care

SM

Radsi

edited due to identifiable info

System

Welcome and good luck. You sound very organised. Hope op goes ok.

Scott_Chegg

Good luck with your plans . I too hope you op goes well.

beanielou

Hope that you have closed down all current lines of credit.

enthusiasticsaver

I am not sure of the wisdom of increasing your borrowing from £18500 to £25000 to then put £4000 of it in a Lisa earning probably much less than 3% in interest. You do get the bonus but you would get that with your monthly savings anyway and your loan payment would be lower or the term shorter. Is it a cash lisa or a stocks and shares lisa?

I appreciate you are trying to concentrate on buying a house as well as clearing debt but the general advice is clear debt first as in almost all cases you are paying more in interest on the debt than you get in saving even taking the government bonus into consideration.


As Beanielou says you need to make sure you have closed all other lines of credit as the temptation with consolidating debt is to think you are debt free and run up credit cards again so you then have a loan plus a credit card. Given you had loans rather than credit cards though that may make it harder particularly as you now have that large unsecured loan. Not a bad rate though.