Tips for Credit card surfersWritten by Robert Armstrong
Moving money from credit card to credit card to take advantage of interest free balance transfers and effectively borrowing money for free. It's even possible to make money by borrowing money, transferring debt to an interest free card and investing cash in a high interest savings account until interest free period expires.However, if you plan on being a serial card surfer, there are a number of things you need to do. Firstly. Make sure you read terms and conditions of card to which you're transferring your balance and are aware of exactly what you're signing up for. Some cards, for example insist that you spend a certain amount per month on card in order to qualify for interest free balance transfer.
| | Thinking about Re-mortgaging? Read these tips first.Written by Robert Armstrong
More and more of use are signing up for limited time low interest rate mortgages and then switching to a different mortgage when low interest period expires. It's a great way to save money and can, potentially, save you thousands in repayments. However, there are a few things you need to think about befoe you re-mortgage. Firstly, check there's no early redemption penalty on your mortgage. These days most early redemption penalties expire at same time as low interest rate period, in which case there's no problem. Make sure that if your mortgage has an early redemption penalty that it does last beyond this period, otherwise it could cost you a significant amount of money. Secondly, remember to take into account any additional costs when you re-mortgage. These could include an application fee for your new mortgage, legal fees, a valuation fee, or a fee for paying off your existing mortgage early. You need to include these fees in your calculations ehn you work out how much you'll save.
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