“Weekly payments are a lot better than monthly because in the long-term your interest will be less,” Ducki says. “Interest is compounded daily so if you’re making payments more regularly, it means the interest being calculated on the loan is for fewer days.
“People tend to stay with the same bank as familiarity provides a sense of security. But banks are very competitive and you can save by shopping around and refinancing your mortgage. Your mortgage broker can help with this.”