Deciding between fortnightly and monthly mortgage repayments depends on your personal financial situation and preferences. Each option has its own advantages and considerations:

Fortnightly Repayments:

• Faster Debt Reduction: Essentially making half of your monthly payment every two weeks. This means you end up making 26 half-payments (equivalent to 13 full payments) in a year instead of the usual 12 monthly payments. This can result in paying off your mortgage faster and reducing the total interest paid over the life of the loan.
• Interest Savings: Due to the extra payments, you'll pay less in interest over the life of the loan compared to making monthly payments.
• Budgeting and Cash Flow: Some people find it easier to budget with fortnightly payments because they align with paychecks.
• Increased Discipline: It enforces a disciplined approach to budgeting as you'll need to make more frequent payments.

Monthly Repayments:

• Simplicity: Monthly payments are straightforward and align with most people's salary schedules
• Cash Flow Management: Some may find it easier to manage monthly payments, especially if they have other monthly expenses to consider.
• Less Frequent Transactions: Fewer transactions may be more convenient for some individuals.

In summary, if your goal is to save on interest and pay off your mortgage faster, fortnightly payments are generally the better option. However, if you prefer simplicity and find it easier to manage your finances on a monthly basis, then monthly payments might be the better choice for you. Ultimately, it's important to choose the option that best fits your financial situation and goals.