Reducing your mortgage

Paying out your home loan earlier than the standard loan term is easier than you think. There are a number of methods you can employ that may help you save thousands of dollars and years off your home loan.

Negotiating a better home loan deal

Depending on your circumstances, you may be able to negotiate with your lender to achieve additional savings. The more attractive you are to the lender, the more likely you are to successfully negotiate a better home loan deal. You are most likely to have success when negotiating in establishment fees and interest rates.

17 ways to pay off your home loan sooner

Find out at least 17 great tips for paying off your loan faster, including how to increase your repayments and make them more often.

personalised strategies for reducing your mortgage

Get a strategy to reduce your mortgage specifically tailored to your sitution by contacting your local mortgage broker on the form below. Or call us at any time on 13 LOAN or direct on +61 2 9249 3739.

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Consolidate debt

Debt consolidation combines several loans into a single loan, usually your home loan. Typically, this will include combining unsecured debts such as personal and car loans, credit card balances and store card balances into your home loan – which is secured debt – that which is secured by your property. Find out the pros and cons of debt consolidation.

Refinancing

Refinancing has become very popular in recent times due to the number of interest rate rises. Refinancing can be very beneficial in helping you to save money if used in the right circumstances, but it can be a costly exercise, so you need to do your sums carefully before making a decision to determine whether or not the costs outweigh the benefits. Find out more about your refinancing options and how much it is likely to cost to change from one home loan to another at refinancing.

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