Australian Mortgages – Extra payments per week vs periodic lump sums?
I currently put in $150 per week extra into the mortgage.
Should I continue doing this or bank the $150 pw into a 7.6% savings account (such as ING) and make 1 or 2 lump sum payments per year into the mortgage?
There are online calculators for lump sum payments, but they only calculate one offs, not annual lump sum payments.
Thanks!
Please, bankers and finaciers advise only.
The more you put on your mortgage up front the better off you will be in the end.
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