The Australian dream is to own your own home. You can create your own veggie patch, wave to your neighbours as you get the mail in your slippers. Invite guests over to marvel at your new place of residence, but ultimately it is a place to call home.

In an ideal world, owning your own home sooner rather than later is expected. But with a thirty year loan carries quite a lot of life variables. Variables that could make easy mortgage repayments look, well easy, until a life change occurs. A new baby is in the family or a new business venture begins. Resulting in a tighter budget and more stress if anything happens that is not covered in the budget. Some great ways you can look at paying your mortgage is this:

While you feel comfortable paying your mortgage, add any additional payments to your repayments. This will pay for any interest rate rises down the track. And when a time comes where you may want to hold off on a mortgage repayment, your financial institution will be more willing to let a month slide, if you use the accumulative amount that you had been paying to your mortgage prior to this moment. What this means is, no personal loans are required to pay your mortgage repayment and a short back-up plan is there if anything goes pear shaped.

Look at other ways to your mortgage down. A suggestion is to always pay more than the minimum requirement. Every little bit helps. When you get a pay rise, add the extra pay to your mortgage too. Once you save a substantial amount of money and when the interest rates are low, it could be a good time to look at refinancing your mortgage. This way, you get a lower interest rate, a lump sum payment down and in turn lower repayments. If you are interested in learning more about refinancing your mortgage, ensure you seek financial advice.

When reviewing your mortgage, think about what this home is to you. Do you want to stay here for the next couple of years? Or is this the home you are going to have your children grow up in and your grandchildren?

This makes a difference, by selling your home in the future you aim to receive a from the sale, this way you can put down a greater deposit on your next home. It may mean your new mortgage is incredibly less due to a larger deposit found from the sale of your house. Planning for your future is important when you are entering a new mortgage, whether it is a first mortgage or second or third.

Talk to our mortgage managers to learn more about what they have learned over the years of meeting with people who are paying out their mortgages. Contact our skilled staff today on 1300 799 266 or email This email address is being protected from spambots. You need JavaScript enabled to view it. to discuss further your individual circumstances.