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

1) Pay the first home loan instalment as soon as you settle

2) Review your loan at least every couple of years and negotiate a cheaper rate with good flexibility

3) Ensure you use a mortgage offset account for your savings

4) Split your loan – fix some and the rest flexible

5) Avoid redrawing money off your mortgage

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

7) Set your repayments higher

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 upfront

12) Align your repayments with your income cycle

13) Make extra payments – preferably set up an auto payment

14) Look for loans that offer features without a charge

15) Check your loan fees