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Right, I've just taken 250 out of my credit card account to pay into my current account in order to stop things going *boing*. This should give me something of a cushion. I've also consolidated all my credit cards in one (hopefully, should mint decide to give me a card with a high enough limit to accomodate £4000 of debt to other people). I've also paid the latest cc bill on one account with a cheque from another. Forgot to see the mortgage people, but I can shop around on the 'net and get a fair idea of what can be done.
It seems the Halifax are now offering savings accounts that pay around 6% interest. Given that my mortgage lender is happy to lend me money at around 5.8%, can anyone give me any reason why I shouldn't open an account with Halifax, pay the loan into there, and pay it back from there, thus actually *making* money on the loan? Seems peculiar that something like this should be possible, so if I'm being silly or not taking something into account, would someone please hit me with a cluebat before I do it?
As ever, the search goes on to find ways of improving my financial situation, so if anyone knows of any way I can start to make more money/save more money in the short to medium term, could they let me know? I'm still pursuing the buying and selling houses thing, but without the money to actually *buy* a house to sell, it's a tad tricky. I *could* manipulate my available credit in order to do it, but I'd rather not owe too much more than I already do.
*sigh* isn't money fun?
[edit]
Anyone have any experience of banking with the OneAccount? Just looked at their website and it makes a certain amount of sense to me. It would at least save me having to juggle 5 or 6 different credit balances and trying to work out where the hell I'm up to all the time. Not an excuse for rampant spending, but possibly a way to make sure I don't cripple myself with interest payments and suchlike. Any ideas from you guys?
It seems the Halifax are now offering savings accounts that pay around 6% interest. Given that my mortgage lender is happy to lend me money at around 5.8%, can anyone give me any reason why I shouldn't open an account with Halifax, pay the loan into there, and pay it back from there, thus actually *making* money on the loan? Seems peculiar that something like this should be possible, so if I'm being silly or not taking something into account, would someone please hit me with a cluebat before I do it?
As ever, the search goes on to find ways of improving my financial situation, so if anyone knows of any way I can start to make more money/save more money in the short to medium term, could they let me know? I'm still pursuing the buying and selling houses thing, but without the money to actually *buy* a house to sell, it's a tad tricky. I *could* manipulate my available credit in order to do it, but I'd rather not owe too much more than I already do.
*sigh* isn't money fun?
[edit]
Anyone have any experience of banking with the OneAccount? Just looked at their website and it makes a certain amount of sense to me. It would at least save me having to juggle 5 or 6 different credit balances and trying to work out where the hell I'm up to all the time. Not an excuse for rampant spending, but possibly a way to make sure I don't cripple myself with interest payments and suchlike. Any ideas from you guys?