Even though I’m tied into a 5 year fixed rate, I crunched the numbers regarding getting out of it and it made sense.

I’ve racked up a bit (lot) of CC debt that I can’t seem to shift, so I am consolodating that.

I’ve ticked all the boxes for the mortgage application and all bar the house valuation it’s sorted. I’ll now be paying less than the existing mortgage, have no credit card debt and won’t be paying ridiculous interest each month (whilst not reducing the debt).

OK, I have a little less equity in the house, but at the rate I was going it would have taken 20 odd years to pay the credit card off. Coupled with my camera just being paid off and finishing a £10k loan last month all of a sudden I’m £700 a month better off 😯

You should give the Greek some advice.

They taught me everything I know (about racking up ridiculous debt).

jam bo – Member

You should give the Greek some advice.

“Don’t lend ANYONE those marbles, they’ll be worth something one day.”

OK, I have a little less equity in the house

They had to get their win somehow…

That said, I think you’ve done the right thing. Paying more to a mortgage company for slightly longer is far preferable to paying silly amounts to CC companies. CC Debt is evil, I know, I’ve been there!

Now chop up your CC, you can always get another if you must have one in the future.

Save £600 of the £700 and you’re a winner.