There are four basic methods one can employ for Mortgage Reduction. You can use one of these, or you can use a combination of several of these for maximum benefit.

Some of the options do not require you to pay anymore than your standard repayment, and yet you can nearly halve your loan period. Other strategies require only a marginally higher loan repayment, which you will hardly notice and yet it will reduce more than 6 years off your home loan and save you tens of thousands of dollars in interest.

The 4 methods are:

  1. Use a 100% Offset Account
  2. Use a Home Equity Loan/Line of Credit
  3. Make Weekly or Fortnightly repayments instead of monthly
  4. Make extra payments when possible (i.e. tax return cheque / Christmas bonus)

If you want to save years off your home loan and thousands of dollars in interest payments, then contact us today so we can help you implement and monitor the best strategy for your situation.