Paying mortgage fortnightly

[encourager]

Great everyone thanks for all the replies!
I spoke to PTSB and they said they can only do as a standing order, as their system will not do fortnightly payments by DD so that's what you need to do.
Have to put request in writing but should be no problem girl told me.
Will let you know how I get on!

 

[moondance]

First Active won't let me do this.

 

[ClubMan]

Great everyone thanks for all the replies!
I spoke to PTSB and they said they can only do as a standing order, as their system will not do fortnightly payments by DD so that's what you need to do.
Have to put request in writing but should be no problem girl told me.
Will let you know how I get on!

Make sure you put it in writing and get written confirmation that any accelerated capital repayments are taken off the capital balance immediately - just to avoid them maybe accumulating the payments and then just remitting them as if they were monthly.

 

[MsGinger]

hmmm i was with PTSB last year and when i requested to pay my mortgage every two weeks, i was tols they only accept monthly payments...

anyone know if they have changed this?

I was also told that they don't allow this but that after a month or two I could set up a weekly standing order and cancel the direct debit, so there seems to be ways around it.