Should you increase your mortgage to pay off unsecured debt?

The answer is it depends.  For example, if you were obtaining an advance on your mortgage anyway, then it is more prudent to pay off unsecured debt than to purchase a vehicle for example.  If you weren’t going to do it anyway then hypothetically consider the situation where your mortgage balance was higher, would you take out a personal loan to reduce your mortgage balance?  Anyway, it does not have to be all or nothing, you could perhaps obtain an advance to pay off half of your unsecured debt.

Gem Visa

The Gem Visa is an innovative new credit card from GE Money that provides six month interest free on purchases over two hundred and fifty dollars and longer terms on certain purchases.  It also offers an optional Shoppers protection insurance package.  It has an online application form which gives a response within sixty seconds, where an approval is an approval (unlike some banks which often ask further questions and perform further checks even if the system says the card is approved).  The card also supports payWave which simplifies payment.  You do not have to pay off your interest free purchase before using your card again.  It is a good idea to track your interest free purchases in a spreadsheet or accounting program to make sure you are on track to paying them off within the required period.