By Sergio Stefano, CEO & Head Broker
Four straightforward changes that can knock years off your mortgage and save you real money in interest. No gimmicks, no catch. Each one comes with a calculator, so you can test it against your own loan before you commit to anything.
1. Pay a little extra, always
Every dollar above the minimum hits the principal, and every dollar of principal you remove stops accruing interest for the rest of the loan. Early in a loan, the effect is dramatic; late in a loan, still worthwhile. Model yours with the extra repayment calculator.
2. Put idle money in an offset
Savings, emergency funds, even salary passing through: money in an offset reduces the balance interest is calculated on while staying available. The offset calculator shows what your average balance is quietly worth.
3. Time payments smarter
The famous fortnightly trick, explained honestly: half your monthly payment every fortnight equals 13 monthly payments a year, not 12, because there are 26 fortnights. It is simply an extra payment you barely feel. No magic, just packaging.
4. Aim lump sums at the loan
Tax returns, bonuses, windfalls: one-off money makes a permanent dent, and the earlier it lands the harder it works. Test timing and size with the lump sum calculator.
The 5th way is structural: a loan that fights these levers needs fixing before the levers can work.
General information only. If your loan caps extra repayments or lacks an offset, a structural review comes first.