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Best Way To Pay Mortgage installments?

  • 27-10-2009 11:11am
    #1
    population
    Registered Users, Registered Users 2 Posts: 1,510 ✭✭✭


    I was listening to a finance guy on Newstalk a couple of months ago and he was saying that you can knock a few grand off your mortgage if you pay it back a certain way. Now I cant remember if he said you pay it back in bi-weekly installments on a S/O or by DD.

    Is this correct and if so which one do I try set up with my lender?

    Cheers


Comments

  • #2
    dudara
    Registered Users, Registered Users 2 Posts: 33,518 ✭✭✭✭dudara


    Moved to Banking & Insurance & Pensions

    dudara


  • #3
    pow wow
    Closed Accounts Posts: 5,288 ✭✭✭pow wow


    population wrote: »
    I was listening to a finance guy on Newstalk a couple of months ago and he was saying that you can knock a few grand off your mortgage if you pay it back a certain way. Now I cant remember if he said you pay it back in bi-weekly installments on a S/O or by DD.

    Is this correct and if so which one do I try set up with my lender?

    Cheers

    It was bi-weekly alright, where you'd make effectively 13 "months" worth of payments (i.e. 26 bi-weekly = 13 four-weekly) instead of 12 if you had it on a calendar month basis. I don't know which lenders allow it though.


  • #4
    parsi
    Site Banned Posts: 5,904 ✭✭✭parsi


    AIB allow it.


  • #5
    population
    Registered Users, Registered Users 2 Posts: 1,510 ✭✭✭population


    I am with KBC who thus far have been utter bast**ds on all aspects of our mortgage so will be curious to see if they will allow this


  • #6
    crossmolinalad
    Registered Users, Registered Users 2 Posts: 837 ✭✭✭crossmolinalad


    population wrote: »
    I am with KBC who thus far have been utter bast**ds on all aspects of our mortgage so will be curious to see if they will allow this

    be with them too have no problems with them
    im unemployed for two years now
    i called them directly and was allowed to pay nothing for one year
    now i have to pay interest only for one year( 60 eu a week)
    next year i have to come back and look what the situation is than
    dont wait talk directly with them and u have no problems with them


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