A
Are you proposing to pay the same annual amount, but over 24 payments instead of 12.
Or are you planning to pay twice the amount each year?
You should hold off doing anything until they announce their scheme for encouraging people to increase their payments. You may get a bonus for doing so.
Thirsty. Paying your mortgage biweekly - if set-up correctly - allows for extra payments. Theoretically savings would be made in interest / term. I am unable to post a link explaining, but if you google 'fortnightly mortgage payments' you'll find plenty explaining pros & cons.I pay my mortgage fortnightly as that's how my salary is paid, but its still the same amount annual as it would have been had it been paid monthly.
what's this about a bonus to increase payments? I'm out of the loop here!
good article on fortnightly payments today in the Irish Times - [broken link removed]
I think you mean bad article in the Irish Times. The writer confuses paying twice a month with paying every two weeks, rendering the article misleading and useless.
If your provider doesn't play ball then you can just make a small additional payment every two weeks.
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