Small Windfall and what to do?

thegreenone

Will you have cleared the two loans before you apply to remortgage in April 2027?

Would having those affect your ability to get good, new interest rates then?

My two pence worth:

Agree, use your emergency fund as you said above to pay off the cc in August.

Use your payout for the car loan, which should mean it will be gone in a month or so.

Use all the cc and car loan payments to get shot of the motorbike loan, hopefully by Christmas.

You will then be debt free and hopefully save hard before the remortgage application. You bank account will feel a 2.5% increase!

Windofchange

https://forums.moneysavingexpert.com/discussion/comment/81864117#Comment_81864117

If left to run the car will be paid off the September of next year so a few months after remortgage and the bike will run into spring of the year after. Neither of these will impact upon my mortgage rates or ability to get a new loan as the remortgage will be at 60% LTV assuming no major property market wobbles and around 2 times joint salary, so we are well well within affordability criteria. My target is for the car loan and credit card to both be gone by April next year which is now easily doable. This will put about £650 a month back in my pocket which will more than absorb the extra monthly mortgage payments unless something really crazy happens in the next half year, and yes, I will direct some of this to the motorbike loan.

Thanks to all who have commented. The plan i think is to put the bulk of the money against the car loan and then the rest onto the credit card to get this so as it gets paid off by August when the zero percent deal expires. I may put a bit into the ISA but I’m going to use it primarily to clear the debts.