How much debt are you in and what for?

£132k on mortgage
£800 on a credit card that is paid off in full each month - used for my expenses for my job (i get 1% cashback end of the year too, so i make money on this)

I do have £13.5k available to me on my 3 credit cards combined, but I would never use that except for emergencies.

The reason I have started this thread actually is because my bank has offered me an unsecured personal loan up to £20k at 0.3% less than my mortgage, so in theory I could borrow this and stick is on my mortgage and overall have slightly less interest but it's not worth the hassle imo.
 
None. I'm an old man and the mortgage is paid off. The car is mine, and I have no loans and the money in my accounts easily covers the small debt on my credit cards.


I come from a generation when debt was a Bad Thing, and I still do everything I can to avoid it.
 
Ace Modder said:
£132k on mortgage
£800 on a credit card that is paid off in full each month - used for my expenses for my job (i get 1% cashback end of the year too, so i make money on this)

I do have £13.5k available to me on my 3 credit cards combined, but I would never use that except for emergencies.

The reason I have started this thread actually is because my bank has offered me an unsecured personal loan up to £20k at 0.3% less than my mortgage, so in theory I could borrow this and stick is on my mortgage and overall have slightly less interest but it's not worth the hassle imo.
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You must be paying a fair bit on your mortgage then?

The best buy for £20k loan is 3.3% at the moment.

edit:

Have you checked whether by putting that £20k overpayment + loan actually increases your monthly payments? Your mortgage will try to pay that £20k over a longer term than the loan.
 
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Sold my house and renting whilst I search for the next place so I'm very much not in debt for the first time apart from a student loan of around £5000
 
Meridian said:
I come from a generation when debt was a Bad Thing, and I still do everything I can to avoid it.
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I intend to keep mine at absolutely minimal until I have a mortgage. To the extent of I'm playing with the idea of paying for motorbike/car insurance up front for the year just so even that is paid for all up-front.
 
Now in the black for he first time since I started uni in 2002! Got rid of the student overdraft too!

Only got approx 90k left on mortgage. No credit cards, nothing.
 
About £360k mortgage but the house has risen more than that since I took it out. No other debt.

Go big or go home :)
 
Just under £300 on the CC after a TV purchase today.Will pay that off next week.
Other than that, zero.
 
£475,000 on the mortgage. Paid off my credit card bill today, but owe the builders £3,000 in a couple of weeks when they finish up our renovation.
 
Hades said:
About £360k mortgage but the house has risen more than that since I took it out. No other debt.

Go big or go home :)
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I don't even think that's a lot of money to owe on a house. Ours is currently worth roughly twice what we owe and we're overpaying; I don't ever really think about it.

A few of our friends have £1.5 - 2 Million houses in Beaconsfield with mortgages; now that might worry me but it's relative I suppose :)
 
George Hincapie said:
I don't even think that's a lot of money to owe on a house. Ours is currently worth roughly twice what we owe and we're overpaying; I don't ever really think about it.

A few of our friends have £1.5 - 2 Million houses in Beaconsfield with mortgages; now that might worry me but it's relative I suppose :)
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I know a few people who have mortgages in that range too but have no intention whatsoever of paying it off.

They simply had the capital at the time to pay the deposit (or borrowed it) and got a 'reasonable' mortgage deal.
 
err, feel like the odd one out here lol


not including mortgage about 34 grand


edit not as bad as I thought hurrah,

quick tally up £31713 owed
 
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