What is the best repayment frequency?

The great mysteries of Repayment frequency

Congratulations, you’ve bought that property, your loan is approved and you are now looking at the loan documents.

Staring back at you from the pages of the mortgage are all the repayment options and they want to know how often you are going to pay them

What do you pick?

Weekly, fortnightly, half monthly….monthly, minimum, higher, standard ……………Arhhhhh

You run from the room screaming.

Most home loans in Australia quote a standard monthly repayment scheduled as it default. But you could potentially save money if you can alter the frequency of your repayments.

Lets look at the basics here

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