Jessica Derm
Registered User
- Messages
- 23
Hi
I'm thinking of changing from paying my mortgage from monthly to weekly because someone told me that you pay it off quicker that way (?)
I tried to do the calcuation comparing monthly payments to weekly payments over say the term of the mortgage but I'm only getting a difference of approx €800 for interest payable over say 28 years. Does this sound correct to you? This is based on an outstanding mortgage of €310,000 over 28 years at say 4.85% fixed rate. Any advice on the calculation would be greatly appreciated. J
I'm thinking of changing from paying my mortgage from monthly to weekly because someone told me that you pay it off quicker that way (?)
I tried to do the calcuation comparing monthly payments to weekly payments over say the term of the mortgage but I'm only getting a difference of approx €800 for interest payable over say 28 years. Does this sound correct to you? This is based on an outstanding mortgage of €310,000 over 28 years at say 4.85% fixed rate. Any advice on the calculation would be greatly appreciated. J