5 Bridge

Some things you think are self evident, and then you read a post like this one.. and you remember they are not always to everyone.

If you have a mortgage and you do not have all your income paid straight into the loan account, then you absolutely want to have you repayment frequency as high as possible. Most banks will not do weekly, but everyone of them will do fortnightly (with the exception being on certain loan products..) and you want to make sure you take advantage of it.

Your interest is calculated daily on the outstanding balance. And you can save thousands over the life of your loan by paying half of your monthly repayment every two weeks instead of waiting until the end of the month.

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