Mortgage half payments

[GrabEmByThePatriarchy]

Has anyone done this? I don't mean the method where you pay in half a month's payment every 2 weeks and so end up paying 13 months each year not 12. I mean where if your mortgage is due on the 1st of the month, you pay half of it on the 20th or whatever the month before and the other half on the 1st.

Discussed below:

www.thesimpledollar.com/mortgage-half-payments-how-much-do-they-save/

It's an American blog but the maths is the same as here.

I think my bank would allow it, we can make overpayments of 10% each year and overpayments made 10 days or less before the mortgage payment is due will be taken off the next payment, iywsim.

Anyone tried this, and would you recommend it?

The bloke in the article doesn't seem to think much of it but it'd make no difference to me in terms of hassle making two payments instead of one.

Not sure I understand how you would stop the bank taking the full payment on the 'due day'?

I'd save up one full month extra payment and just make that as an over payment that reduces the term. You could pay it with one of your payments, or move your payments to 1st of month, which would have the same effect overall.

Arrange it with them I guess. I was just wondering if anyone has managed to do this and whether and how it worked for them.