View Full Version : Weekly Mortgages
NeilMcD
04/11/2008, 1:19 PM
Has anybody transferred their mortgage payments to weekly rather than monthly and did they make any savings etc. What are peoples views etc on this.
paul_oshea
04/11/2008, 1:55 PM
didnt know this was even possible.
surely it would all depend on how you are paid.
i dont see how you could make any savings though? Unless its tracker or variable?!
DmanDmythDledge
04/11/2008, 5:16 PM
http://uk.youtube.com/watch?v=l74083zafAM
NeilMcD
04/11/2008, 10:24 PM
didnt know this was even possible.
surely it would all depend on how you are paid.
i dont see how you could make any savings though? Unless its tracker or variable?!
My understanding is you save on the interest and you can knock about a year off your mortgage in total.
paul_oshea
05/11/2008, 1:40 PM
those strawberry alarm guys ended up looking like eejits to be honest.
anyway, neil i am no expert but, unless its a variable rate and the interest gets recalculated daily i.e. if you pay Friday and it gets recalculated again on Monday, then I don't see how it can save you any money or decrease the interest yer paying. Maybe a tracker would allow this also?!
Anyway, neither of them can I apply for, as I was told by my mortgage lender here that I could leave if I wanted to when my fixed rate ends, i was basically told F OFF and that no one would touch me. Which is right unfortunately :(
NeilMcD
05/11/2008, 2:29 PM
So the banks are the same as the women then.
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