Pay off mortgage with 0% credit card

Suitthenewt

I am in a lucky position where if I use a 0% credit card I can pay off my mortgage and then get the benefit of 0% for 18 months during which I hope to have paid the balance off, thus avoiding the latest interest rate rise. Is there any penalty from the mortgage lender in doing this

[Deleted User]

It's very unlikely they will accept a card payment, unless you are heavily in arrears.  You would need to look at a money transfer card, but the fees will probably not make it worthwhile.

Suitthenewt

I thought this was a no brainer but possibly not! Thank you zx81 will make a few other enquiries, like all disappointed in the interest rate last night.

born_again

Suitthenewt said:

I thought this was a no brainer but possibly not! Thank you zx81 will make a few other enquiries, like all disappointed in the interest rate last night.

1st enquiry will need to be with who your mortgage provider & what payment methods they will take. 👍

Also what is the balance on the mortgage? 

PosterBoy77

There is a solution to this. Get a Curve Metal card, add the credit card to the account and then pay the mortgage off using the Curve card which is seen as a debit card. If the mortgage lender does not accept debit cards, setup a savings account that does and then pay the mortgage off from that.

MrFrugalFever

mikael said:

There is a solution to this. Get a Curve Metal card, add the credit card to the account and then pay the mortgage off using the Curve card which is seen as a debit card. If the mortgage lender does not accept debit cards, setup a savings account that does and then pay the mortgage off from that.

All very well and good but the transaction will effectively be credit to credit and will almost certainly have a MCC relating to ‘cash like transaction’ which will almost certainly fall outside of the 0% purchase promotion.