Can The Fortnightly Repayment Calculator
Reveal Impressive Savings For You?

Our Mortgage Brokers Will Save You Substantial time and money, take advantage of specialist help - AND, THEY'RE 'FREE'.

If You Haven't Already, Try out the Fortnightly Repayment
Calculator Above and Discover the Savings.

You can check it out yourself with our fortnightly repayment calculator.

By turning your monthly mortgage repayment into fortnightly repayments it can make a healthy difference in reducing your mortgage loan term.

Think about it, for every year you reduce your loan term you can multiple your monthly repayment by 12 months to find out how much you will save for each year the term is reduced.

Keep in mind that the fortnightly mortgage repayment calculator is going to give you a true reading. If by chance you rely on your lender to tell you what the fortnightly repayment formula should be, be careful as many lenders will simply multiple the monthly repayment by 12 and then divide it by 26.

If they do that it won’t make any difference when it comes to saving money on your mortgage.

No, the fortnightly repayment formula you want them to use is; divide your current monthly mortgage repayment amount by 2 and then apply that amount as your new fortnightly repayment amount. That-a-way you will end up making 26 fortnightly repayments each year for a slightly increased amount.

You see, on average there are 4.33 weeks in each month. So, by making those new slightly increased fortnightly repayments you actually end up making 1 extra monthly repayment over the 12 month period.

Admittedly, you’re taking extra money out of your pocket to get the result. Be that as it may, the trick you’re playing on yourself is, if it’s out of sight, it’s out of mind.

If you want to turn the monthly repayment into weekly repayments and the reason you’re doing it is to pay your mortgage off faster, divide the new fortnightly repayment amount by 2 and then pay that amount weekly.

Don’t multiple the current monthly amount by 12 and then divide by 52, because it means you won’t be paying any extra into your mortgage, beyond the minimum amount required.

The Fortnightly Repayment Calculator Will Show You Exciting Possibilities

When you change your contractually agreed minimum monthly repayment amount into fortnightly or weekly repayments as we have recommended above, you will start to see exciting savings in the amount of interest charges you have been paying as well as a motivating reduction in your loan term.

These are small changes, but hopefully this provides the momentum for you to search out other strategies that can help you pay your mortgage off even faster still.

Check with your lender in advance as to what formula they’re going to use if you go directly to request them to change your monthly repayments into fortnightly repayments.

When you call them, sit quietly and listen to what they have to say. If it doesn’t match what you see in the fortnightly repayment calculator above, then you’re going to have to get specific with them.

Also, after the changes have been made, do your own calculations to ensure that it has been done correctly. That way you will be able to confirm that you’ve now entered the fast lane on your way to paying your mortgage off faster.

We would be happy to hear from you, if you feel we can help you achieve more benefits in the way of paying your home loan off faster.