Hi,
I was hoping some one smart about credit cards may be able to help me!
I am currently selling my flat and there is a Section 20 for works on it. I will be covering this bill, putting the amount into a retainer to be used when the work is done. The original full quote was quite high and after contesting the leaseholders have managed to get some of the works removed, which would lower the cost. However the management company are currently ignoring any attempt to get this new cost written as a formal quote (they're ignoring me completely!) So I will have to cover the old, full amount at the moment.
I am covering this with some savings and some money borrowed from some very kind family members. There is however a fairly big chunk that still needs to be covered (£6000).
I have a 0% purchase and balance transfer credit card which I was planning on using for money transfer for this, but I'm not sure if this is the best option? I am going to call the bank and see what the monthly repayments would look like but does anyone have experience of this and what it roughly could be?
My 0% does run out in November so I would have to get a new 0% BT to transfer it to. I think the APR is around 22%.
Or do I get a new 0% Money transfer card? Again not sure on monthly repayments but the 0% would last longer before I had to transfer. I had quick look and I could get an MBNA 0% MT card (0% for 14 months) however this would be max £5000 so I'd need to transfer £1000 from my old CC, so it gets a bit messy.
I don't think a loan would work in these circumstances?
I absolutely do not mind having to pay off some a month, as it could be that I have to pay the whole amount off if the works cost that much - it's just trying to keep those payments to a minimum.
Annoyingly, I could get the "new" quote within a month or so of moving, so I wouldn't have to pay too much towards it as I could get the money back and repay the card straight away or, equally, I could have to wait until the work has been finished and invoiced. Which could be at least a year 🤦🏼♀️ it is a nightmare!
If you made sense of that, well done! Any help is much appreciated :)
We did manage to get the quote from 36 flats having new windows and doors, 24 shed doors, 15 fire doors and communal windows to just 6 flats and the communal windows so it has dropped quite a bit, I just can't get an official quote from them!