Weekly Mortgages

[NeilMcD]

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]

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]

http://uk.youtube.com/watch?v=l74083zafAM

[NeilMcD]

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]

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]

So the banks are the same as the women then.