The banks are a disgrace but after the crash the Irish public got stung so we are watching them closely now. I saw a Tiktok clip of a guy who went on a variable rate of interest with his mortgage and choose to pay the interest daily so it would not compound over the month. He ended up cutting 15 years off his mortgage. The bank tried to stop him but with variable rates you are allowed to pay whatever you like so his daily routine was walking to the bank. Paying 5 quid off his mortgage every day. Genius.
The recovery has been pretty good, right?
That is awesome!
It reminds me of what happened when they got rid of 1 and 2 cent coins in Australia 25 years ago or whatever. Because they would round up (with cash at the time), people were paying item by item. A hundred items might save them 1-2 dollars :D
On another note. There used to be the opportunity to pay the salary into the mortgage, then use a credit card all month, withdrawing from the loan to pay the card off before interest accrued. It would half a loan. But, many people didn't have the dedication and consistency - so wouldn't pay the card off completely. What they didn't realize was even if there was a dollar left on the card to pay, the entire month of interest would be charged. Many "smart" people got burned. However, those who did it well benefited greatly. Not sure if those loans still exist.
Ha that's funny. It's mad the loopholes people find.