Mortgage Interest Reduction Basics

The general idea that we were fed growing up was that if you wanted a house, you would get a mortgage, the bank would tell you how long it would take to pay it back, and you would pay it back over that time. Little did we know the term “mortgage interest reduction” would be keeping us up at night now.

That was also the time where some soda companies tried to make a “breakfast soda”. So, things have changed.

The chances are that if you’re reading this right now, you already have a mortgage and are looking to get it paid off sooner rather than later. There are a plethora of mortgage repayment calculators on the net that will give you information on the timeframe you are looking at by paying different levels of repayments. We have our handy-dandy mortgage calculator here for a second opinion.

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What those cheeky monkeys haven’t told you is that there are a few ways to shave years off your mortgage. If you use one of these mortgage calculators, you’ll see that based off the information your lender has given you, it will take the timeframe they have given you to pay it off. Of course, the lenders don’t want you to know this because paying off your loan over a long time is how they make their money.

We’re more interested in making sure your money works for you.

Before you start pounding “mortgage broker near me” into Google looking to refinance or “mortgage rates comparison” to see how different the banks are treating their customers, we would urge you to have a short conversation with one of our Credit Connection experts because they know the best path to Less Debt More Life and have shaved decades off our client’s mortgages.

You can contact them here for a free consultation. Ok, enough of the selling, you want some tips.

This article is just going to cover the basics because this discussion and your situation can change a lot of the factors on how quickly you can pay off your mortgage.


Placing funds into your offset account helps bring down the interest that is being added to your mortgage. Using the offset means that you are ticking off more of the principal than you would if you didn’t use one with each payment.


You might have credit cards and loans from different lenders. Those services might have different interest rates and fees that could be driving up your repayments. Consolidating them can help save you brand new television’s worth of interest, and who doesn’t want a new TV?

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Just because you took a mortgage out with a particular lender doesn’t mean that you are tied to them for the duration of your mortgage. Look around often and see if there is a better deal out there. Sure, many lenders have an exit fee attached to their mortgages, but if you find massive savings, you can counteract that fee and save yourself more in the long run. Plus, as the shopaholic once said when they were in the shopping centre after discovering they left their wallet at home, “there’s no harm in looking.”

These are some fundamental tips for Mortgage Interest Reduction and getting you to the land of debt freedom, but “basic” was in the title. Contact one of our experts today for a more in-depth discussion and one catered to your financial situation.

Less Debt More Life™

You work hard for your money – imagine your peace of mind knowing your money is working hard for you. Our Mortgage Action Plan delivers guaranteed results and allows you to start living the life you deserve.


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