Before taking action on any of the below ‘Top 15 Ways’, we recommend you speak with a finance specialist. Call the once for more information on any of these 15 suggestions.

1. Pay the first home loan installment as soon as you settle

2. Review your loan at least every two years and negotiate a cheaper rate with good flexibility

3. Ensure you use a mortgage offset account for your savings and understand how to use it wisely

4. Split your loan – fix a portion and leave the rest variable for flexibility

5. Avoid redrawing money off your mortgage at all costs

6. Don’t lower your minimum regular payment if interest rates fall

7. Set higher repayments

8. Make lump sum repayments or regular mini lump sum repayments

9. Pay your loan fortnightly rather than monthly

10. Set a budget and reduce any unnecessary spending

11. Pay loan fees up front

12. Align your repayments with your income cycle

13. Make extra payments as often as you can – preferably set up an auto payment to do this

14. Talk to us about loans that offer features without a charge

15. Check your loan fees and negotiate where possible