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Save money on your mortgage

Home Save money on your mortgage

If you currently own property, you might be asking how you can pay your mortgage(s) off sooner.

A great question!

Yes, there are ways to do this!

Many people have unfortunately been conditioned to think that they are chained to paying their mortgage for 25 or 30 years and that there are no real ways to pay their mortgage off sooner. Some people believe that if they pay a little bit more each week, it may help, but only a tiny bit. Other people assume that the only way to save money is when interest rates fall. Some other people wonder if there is a cheaper bank or lender out there that might be able to offer them a better deal.

Paying it off early is possible – but it requires education

It is important to learn about the structure of your mortgage. If you’ve owned property for some time and only have “Principal & Interest” fixed rate facilities, it could be worth reviewing this with us to see what it is all about and if it is worth changing or amending the structure of your mortgage.

Having a “Principal & Interest” fixed rate facility can be favourable from the point of view that it keeps your repayments consistent (in some regards) and takes advantage of competitive interest rates. However it can often be a shortsighted way of reducing debt and gaining a greater share of equity in your home.

Learn how mortgage structures work

Talk to us! A professional financial adviser with knowledge of mortgage structures can examine your situation. Even if you have worked with another broker or bank in the past, it will be worth getting a second opinion from our financial adviser. A free initial discussion may help you to understand the possibility of restructuring your mortgage to take advantage of paying your home loan off earlier.

How to pay your home off earlier

There are different ways to pay your home loan off earlier, or faster. Some of them include making voluntary repayments. Other ways can entail restructuring your debts so you have more money to put towards paying the principal of your home loan down. Restructuring how your financial facilities and resources work together can prove to be very useful. It might also be worth looking into how a combination of different facilities such as a revolving credit, floating facility, and fixed rate facility, can work together to pay down your debts.

Furthermore, our professional financial adviser can also check if the lender or bank you are currently with has suitable facilities for your situation. They may have a special account type that can benefit you and that you may not know about. Setting up the facility can be easier than you think.

Why pay a home loan off earlier?

Paying off a home loan earlier can have so many benefits. It can mean that you gain a greater % of equity in the home(s) you own more quickly. That may unlock new opportunities such as the ability to buy an investment property and be a landlord yourself. Or, if you are a landlord and property investor already, reducing or restructuring debt can make a lot of sense. It might mean you can also take advantage of other benefits, such as tax savings, that a qualified accountant can speak with you further about.

What to do next?

Contact us! We can put together a plan to give you a debt reduction plan and structure over the coming years. A free initial discussion will provide you with more information about this.


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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