Pay Mortgage every 2 weeks rather than monthly ???

[Mixednuts]

Hi,
Is it true that by paying your mortgage every 2 weeks rather than monthly that you could save thousands over the full term , it does make sense as you are hitting the capital on a more frequent basis ....anyone out there gone down this path ?

ta.

 

[colm]

Dont know if they will let you..

 

[moondance]

I asked First Active could I do this and they said no. Maybe you might be luckier with your back though!

 

[NorfBank]

This was discussed previously:

http://www.askaboutmoney.com/showthread.php?t=42200

The major issue as the previous poster said is that the bank have to agree to it. I think BOI were the last lender to offer it.

 

[PaddyW]

They allowed people pay mortgages weekly? Wow

 

[construct_06]

im with NIB and i could choose at setup to pay fortnightly. Never thought of going weekly, would be good for the household budgeting...