Quote Originally Posted by JohnH
Quote Originally Posted by ciars
Personally, I pay every 4 weeks instead of every month, giving me an additional 1 payment per calendar year (13 payments every 4 weeks versus 12 monthly payments). A small yet significant (to me) interest saving at the end of the term.
@[ciars] That should give a big saving. I remember hearing years ago if you make 13 payments a year rather than the normal 12 it would mean you'd repay a 30 mortgage in 23 years, resulting in 7 years interest being saved
Yup its something along those lines alright. I've yet to do the math but it will be fairly substantial....especially seeing as I'm now on a variable rate having lost my tracker when I moved homes a few years ago :crying: