4 Top Tips For Fast Tracking Mortgage Repayments

I’m always happy to pass on great info...and this is great info! I’ve included a few snippets below lifted from the full article.

The longer you take to pay off the principal amount you’ve borrowed for your home the more interest you will end up paying. However mortgage reduction is much easier and less painful than most people think, and as interest rates tumble there’s never been a better time to use the money saved on mortgage interest repayments to drive your mortgage down.

Keep the following points in mind as you strive to be fast track your mortgage repayments:

? Review your home loan: Make sure that your home loan still has a competitive interest rate. Some lenders are heavily discounting their loans to win business so it’s well worth considering your options. Your broker will be able to help you explore whether there’s a better deal available, so give them a call.

? Stay the course: Interest rates have already fallen three percent in just four months – that could mean a monthly saving of hundreds of dollars on your repayment amount. Why not keep your repayments where they were before rates dropped? Follow this strategy and you’ll potentially channel thousands of dollars onto you loan each year and take years off your repayments.

Do you need more detail on this subject? Head on over to the full article https://www.whichinvestmentproperty.com.au/top-tips/13205-top-tips-for-fast-tracking-mortgage-repayments-1 for more ideas and perspective. Afterwards, why not drop me an email to share your thoughts [email protected]; or call me on (0295) 686 266.

Thanks,

Alex