Home loan care
You don’t need a big overhaul to get more from your home loan
With a few smart habits you can stay in control, reduce your interest, and pay off your loan sooner.
Here are some simple ways to keep your loan healthy and working harder for you.
Make extra repayments
Putting in just a little more than your required repayment can make a big impact over time potentially shaving years off your loan. Small habits like rounding up repayments or using your tax return to give your balance a boost can make a difference.1
Use your offset account wisely
If your loan includes an offset, depositing your income or savings into that account can reduce the interest you pay.2 It’s an easy way to make your everyday banking work for you.
Check in on your property’s value
The equity in your home can open opportunities from renovating or landscaping to investing in other goals. Checking in on how much equity you’ve built up is a good way to plan ahead and make sure your home loan is supporting what’s next for you.
Stay informed on market changes
Rate changes happen, and being aware of them helps you plan ahead. We’ll keep you in the loop, but it’s always a good idea to review your loan if the market shifts significantly.
Absorb funds to reduce future repayments
If your repayments go up after a fixed term ends, you may be able to absorb the difference into your budget, giving you a buffer and reducing your future minimums.
Review your loan regularly
Think of it like a health check. Is your loan still doing what you need it to? If not, we can help you explore your options.
1For Bank First a maximum additional repayment limit of $30,000 per year applies for fixed rate loans.
2Available on our Complete and Premier Package Home Loans.
Important Information: This article is for general information only. Please consider your personal circumstances or get advice before acting on any the information or making any changes to your loan.