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Debt Reduction Plan

Home Debt Reduction Plan

Want to pay off your mortgage faster?

Your home loan doesn’t have to take 20 or 30 years to pay off! Becoming debt free has been a dream for many New Zealand home owners. So, how can it be achieved?

Many people have a home loan that can take as long as 30 years to pay off. It may seem like the only way to deal with this is to keep paying until the mortgage ends. There is also a common misconception that the only way to save money on a mortgage is to hope for cheaper interest rates.

You can structure your loan to save more money

“Loan Structure” refers to how your loan facilities are laid out and operate. Many experts find that their clients can save (quite literally) as much as $100,000, if not more, through restructuring their loan. This might mean that they can pay their mortgage off 10 years, maybe even 20 years in some circumstances, earlier.

How does this work? There are many parts to the puzzle. One of these key parts is understanding that some mortgage providers will allow you to save money on interest by having your income correctly structured within the home loan environment. This means that you pay less interest on your mortgage repayments.

Through the use of calculations and impressive modelling tools, it is possible to analyse your mortgage and see how to become mortgage free sooner.

Be amazed by how much faster your mortgage gets paid off

With the right guidance, your mortgage can be paid off much faster and you will see noticeable results in the speed of the repayments.

Set things up to your advantage

One of the best parts of the debt reduction plan or mortgage review is that it helps set things up to your advantage, as the customer. This means that you can have a greater ‘win’ from the home loan occasion, rather than just feeling like your salary or wages are being chipped away by regular instalments.

This can involve creating new and appropriate facilities in your home loan environment, to help you take advantage of debt reduction provisions.

How to pay off your mortgage sooner

A suitably qualified financial adviser and mortgage broker can review your situation. With our business, you will be able to work with a professional financial adviser who understands the mortgage reduction process. This means that you can realise the benefits of becoming debt free sooner.

You will likely need to provide some details of your situation in order for an adviser to make an initial assessment. Once this is done, it is possible to move forward.

Why pay off your mortgage sooner?

Mortgages or home loans can be expensive if you consider how much interest you are paying over a long period of time. If you can reduce this debt, you can start to gain greater equity in the home. Many people have aspirations of being landlords themselves and one day owning a rental property, which can generate additional income for the family. This can be a very rewarding sign of financial strength in your portfolio. It is easier to achieve this when you have a greater amount of equity in the home.

HELP WITH HOME LOANS, KIWISAVER AND INSURANCE

Just Financial is a professional financial adviser service and helps you with buying a home, using your KiwiSaver, insurance and more. Ask us to help you with your financial goals.

  • Home loans
  • Using your KiwiSaver
  • Saving money on your mortgage
  • Refinancing or debt consolidation
  • Low interest rates

  • Life insurance
  • Mortgage protection insurance
  • First home buyers
  • Help when the bank says no
  • Construction loans

Get Help From An Award Winning Financial Adviser

Want to buy a house? Looking for an amazing mortgage broker? Buying a house can be a challenging process. With the right advice, this can be made easy. Just Finance provides a professional mortgage broker service that can help you right throughout New Zealand. From first home buyers, to investors, as well as people who already have a house and want to refinance, there are many ways we help.

 

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