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What will my repayments be per week?
Bayley Clarke · Mortgage broker on the road · Last checked 1 September 2026 · 2 min read
The short answer
Most banks use what's called a true weekly repayment: take the monthly amount, times it by 12 months, divide it by 52 weeks. Others use an accelerated weekly repayment: the monthly amount divided by four.
Accelerated weekly has you paying a bit more across the year, which is why it clears the loan quicker. If you want the true weekly figure, it's basic arithmetic. The thing to know is which one your bank is quoting you when you compare.
The 30 second version. The rest of this page is the detail underneath it.
True weekly
A home loan is priced monthly. To get a weekly figure, most banks take the monthly amount, multiply it by 12 to get the year, then divide by 52 weeks. That is a true weekly repayment: the same money, spread over the real number of weeks in a year.
If you think in weekly money, which most people renting do, this is the number that tells you what the loan will actually feel like against your pay.
Accelerated weekly
Other banks do what's called an accelerated weekly repayment, where they take the monthly amount and simply divide it by four. Four weeks a month sounds right, but there are 52 weeks in a year, not 48. So you end up paying the equivalent of thirteen months in a year instead of twelve.
Doing it that way means you pay more across the course of the year, which of course means you pay off your home loan a lot quicker. It's a quiet way of overpaying without noticing.
Which one you're looking at
Neither is wrong. They're different. What matters is knowing which one a bank means when it quotes you a weekly figure, because an accelerated weekly number will look higher than a true weekly number for exactly the same loan, and that can make a comparison lie to you.
If you want a true weekly figure for any loan, it's just basic arithmetic: monthly, times 12, divided by 52.
The honest bit: I convert everything to weekly anyway
Every number I give a client comes out in two forms: per month and roughly per week. Not because the bank cares, but because you already know what a week of rent feels like, so a weekly repayment is a number you can judge instantly.
If a bank quotes you weekly and it looks scary next to your rent, ask which weekly. Half the time it's the accelerated figure, and the true weekly is lower than the rent you're already paying.
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Do I need pre-approval before I look? How long does it last?The first question after the repayment one.
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