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Mortgage Repayments

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admin-mags
admin-mags Posts: 3 Newbie
First Post
in Mortgages & endowments
Can anyone confirm that by paying off your mortgage repayments from monthly into weekly payments will pay off the mortgage sooner, and cheaper?

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  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    The earlier payments are made, the less interest is charged on them, assuming interest is calculated daily.

    However, you also need to make payments according to the lender's due dates and terms.
  • Zero_Sum
    Zero_Sum Posts: 1,567 Forumite
    I monthly payment at start of month - no
    If at end - yes
    Common sense surely?
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