G
geegee
Guest
I may be going onto fortnightly pay - is it possible to pay an Ulster Bank Tracker mortgage at this frequency? if so, would the interest savings be significant?
GG
GG
R
Repaymentator
Guest
The savings would be worthwhile if they let you do it.
KJ's Mortgage calculator has a fortnightly option in settings that you can use to calculate the savings.
KJ's Mortgage calculator has a fortnightly option in settings that you can use to calculate the savings.
M
mo3art
Guest
Hi Geegee
I checked this out recently.
Ulster Bank say they don't allow this. But they recommend you save seperately for one extra payment per year and pay it off annually.
Pain in the **** if you ask me.
Sometimes, they can be just so inflexible.................
I checked this out recently.
Ulster Bank say they don't allow this. But they recommend you save seperately for one extra payment per year and pay it off annually.
Pain in the **** if you ask me.
Sometimes, they can be just so inflexible.................
G
geegee
Guest
Hi mo3art,
Ulster Bank seem to be missing the point - they are on about capital repayments rather than repayment frequency which is just paying the normal monthly amount fortnightly rather than monthly.
GG
Ulster Bank seem to be missing the point - they are on about capital repayments rather than repayment frequency which is just paying the normal monthly amount fortnightly rather than monthly.
GG
M
mo3art
Guest
Oh I know, but that's what I got told.
Because of the date they calculate the interest amount it mucks them up.
Also, you then make the equivalent of 13 monthly repayments in the year if you pay fortnightly then it is a larger chunk off of your capital on an annual basis.
Does that make things as clear as mud
Because of the date they calculate the interest amount it mucks them up.
Also, you then make the equivalent of 13 monthly repayments in the year if you pay fortnightly then it is a larger chunk off of your capital on an annual basis.
Does that make things as clear as mud