Paying mortgage payments fortnightly - do Ulster Bank allow this?

B

Bosch

Registered User
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Hi folks,
Heard a financial advisor recently suggest that by paying mortgage payments every fortnight (as opposed to monthly), that it can cut years off your mortgage.

Just curious if anyone knows if banks (and specifically Ulster Bank mortgages) would be open to this arrangement?

I'd be interested to hear if anyone has made this switch, and if so, how painful / painless it was?

Cheers!
B.
 
Bosch said:
Hi folks,
Heard a financial advisor recently suggest that by paying mortgage payments every fortnight (as opposed to monthly), that it can cut years off your mortgage.

Just curious if anyone knows if banks (and specifically Ulster Bank mortgages) would be open to this arrangement?

I'd be interested to hear if anyone has made this switch, and if so, how painful / painless it was?

Cheers!
B.
Click to expand...

God save us from inumerate "financial advisors".

Here is a suggestion.

  • Open a regular savers bank account.
  • Arrange for an automatic deposit that is 1/12 of your regular mortgage payment to be made each month
  • At the end of each year make a one off capital repayment on your mortgage (subject to T&Cs and request that you repayment remain unaltered).
 
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