Save interest & pay off your mortgage faster by making additional payments.

Mortgage InterestThere are many different schemes around which promote interest savings. The only way to save interest is to pay off your mortgage faster or make additional payments.

Very simply if you change the term of your mortgage, say from 30 years to 20 years this can save you an enormous amount of money. eg

  • $200,000 7% 30yrs $307pw
  • $200,000 7% 20yrs $357pw

The difference is $50pw.

By reducing your loan term from 30 years to 20 years this would result in a savings of $92,926 over the loan life. This is based on an interest rate of 7% and an extra payment of $50per week

Many people can make extra payments but may not want to in case they need money in an emergency. We can show you how to pay off your mortgage faster while still being able to access the extra money you have paid off.

This could save you thousands of dollars. Contact us for more information