Sunday Herald Sun - Body and Soul - - LIFESTYLE -

“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.”

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