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ACCELERATED MORTGAGE PAYMENTS

oliel
oliel Posts: 233 Forumite
Part of the Furniture 100 Posts Name Dropper Combo Breaker
in Mortgages & endowments
Ive been seeing quite a lot lately about accelerated mortgage payments - my understanding is basically paying your mortgage weekly rather than monthly can save you a ton of interest over the term.  Does anyone know if all banks allows this?  In particular the Clydesdale who i'm with.  Thanks

Comments

  • dimbo61
    dimbo61 Posts: 13,727 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Do you get paid weekly ?
    Can you afford to overpay  every week or month ?
    Have you got other debts 
  • oliel
    oliel Posts: 233 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    dimbo61 said:
    Do you get paid weekly ?
    Can you afford to overpay  every week or month ?
    Have you got other debts 
    I have other debts - my husband gets paid weekly i want wanting to overpay the mortgage just pay weekly as i read this will reduce the interest over the term as you are reducing the balance weekly rather than monthly?

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