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Previously on "Maximising Offset Mortgages. Non comedy version."
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I have it on my list to check my DD and Standing orders and see if can move them as late as possible but we are talking very minor savings so is right at the bottom of my list.
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Originally posted by ContrataxLtd View PostI assume you are doing the whole declare the years tax efficient dividend out in April to stash in offset and drawn down on each month from there? Obviously the usual criteria applies, must have profit, be sensible with your cash etc.
Martin
Contratax Ltd
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I assume you are doing the whole declare the years tax efficient dividend out in April to stash in offset and drawn down on each month from there? Obviously the usual criteria applies, must have profit, be sensible with your cash etc.
Martin
Contratax Ltd
Leave a comment:
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Originally posted by TheFaQQer View PostIf you're going to do that, make sure you keep track of the exact date that the interest starts and pay by then. The one time I did it, I naively waited for the statement to arrive, got hit with interest charges, and wiped out any saving I'd had over the 0% period.
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Originally posted by d000hg View PostWhat do you mean exactly? I thought you were talking about getting a money transfer CC which charges 4% fee for 29 months years interest free, for say £6k, dumping this in the offset for 28 months and then pulling it out to pay off the CC (or transferring the CC debt to another 0% deal).
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Originally posted by northernladuk View PostJust wondered if there were any other methods people used that I might have missed. I can't see the 0% on payments working as I would hit the credit limit every few months.
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Originally posted by northernladuk View PostJust wondered if there were any other methods people used that I might have missed. I can't see the 0% on payments working as I would hit the credit limit every few months. Even using the balance transfer options it won't be a fortune as they only offered me 5.7k credit. Still, this on top of everything else should mount up nicely.
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Originally posted by d000hg View PostSince it's a bit specialist, THIS is probably the place if you're going to cover company loans, etc. As far as using CCs, etc, MSE has the information and a smart fellow like you probably doesn't need someone to crunch the numbers. Worth looking into but not going to save a fortune for most people was my summary
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Originally posted by d000hg View PostSince it's a bit specialist, THIS is probably the place if you're going to cover company loans, etc. As far as using CCs, etc, MSE has the information and a smart fellow like you probably doesn't need someone to crunch the numbers. Worth looking into but not going to save a fortune for most people was my summary
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Since it's a bit specialist, THIS is probably the place if you're going to cover company loans, etc. As far as using CCs, etc, MSE has the information and a smart fellow like you probably doesn't need someone to crunch the numbers. Worth looking into but not going to save a fortune for most people was my summary
Leave a comment:
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Originally posted by northernladuk View PostAnyone tried working their offset hard or know of any websites that go through all the tricks available. I had a quick search and I can only find the general benefits. I thought there would be something about really working it. Things like...
Balance transfers to credit card so delay payments coming out of offset account. Nationwide .75% offering for example.
Using 0% on purchase long term deals. Problem is you hit your credit limit before you make any good use of this? Maybe combined with balance transfer above could be worth it?
Balance transfers to current accounts (cash transfer) as pointed out by NWP2C recently but rates not amazing.
And particularly for contractors maximising directors loans to 10k as well as using the loan facility and paying the 4% interest which works out a lot lower if you are looking at true cost.
and so on....
Anyone up to speed with all the options or knows a site that discusses this? MSE seem to be very general posts about it, nothing in enough detail to make it worth reading.
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Maximising Offset Mortgages. Non comedy version.
Anyone tried working their offset hard or know of any websites that go through all the tricks available. I had a quick search and I can only find the general benefits. I thought there would be something about really working it. Things like...
Balance transfers to credit card so delay payments coming out of offset account. Nationwide .75% offering for example.
Using 0% on purchase long term deals. Problem is you hit your credit limit before you make any good use of this? Maybe combined with balance transfer above could be worth it?
Balance transfers to current accounts (cash transfer) as pointed out by NWP2C recently but rates not amazing.
Getting SWMBO to use a credit card instead of a debit card to keep it in the account longer.
And particularly for contractors
Maximising directors loans to 10k
Using the loan facility and paying the 4% interest which works out a lot lower if you are looking at true cost.
Divii'ing out full amount at beginning of the year
and so on....
Anyone up to speed with all the options or knows a site that discusses this? MSE seem to be very general posts about it, nothing in enough detail to make it worth reading.Tags: None
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