5 tips to help you pay your mortgage off before you know it

Jul 13, 2020
By Staff writer

Mortgage repayments can be a major chore for most of us. It’s never easy to repay a mortgage, especially when the rates are very high. However, you need to make sure that you find new, creative ways to ease the pressure and make this work properly.

We created a list with 5 great ideas that will help you deal with mortgage rates a lot easier. Here are some tips to help you with that.

Why you might be struggling to pay off your mortgage?

One of the main problems with paying off a mortgage is that the sum itself is insanely high. Yes, the costs are high and that can be a major problem for most of us. What you really want to do is to keep the costs as low as possible. And once you do that, it will be worth it.

But unforeseen costs appear out of nowhere and it can be very tricky to repay such a large debt on your own. Which is why you need to do a mortgage rate comparison and see what option suits your needs and how you can tackle this entire process adequately.

Of course there will be some challenges along the way, but with the right ideas and a good approach things will work great and the payoff will be amazing.

How to pay mortgage off

1. Change your payment frequency

A good idea is to change from monthly payments to fortnightly payments. This will help pay off your debt a lot easier. But you have to make sure that you understand all of the challenges that comes with such a payment system.

It’s not something extremely easy to integrate and adapt. But once you use it properly, the results will be extraordinary and you will have no problem completing this in a way that works very well for everyone. And you can use a mortgage calculator to see if this works the way you expect.


2. Make extra repayments

What a lot of people should do here is pay a bit more for each repayment. It might not sound like a great idea at first, but the more you pay now, the less you will have to pay after that. And it’s important to keep it going for as much time as possible.

This will offer you a much better way to repay debts without having to worry about any challenges that arise. It might be tricky to do this at first, but once you get into the habit it becomes easier and easier.

You will soon notice results end up getting better and you will be happy with the repayment frequency and the fact that you paid more than anticipated.

Granted, this requires you to save more money, but if anything it brings in a sound and reliable way to help you save in the long run.

3. Reduce unnecessary expenses

Reduce those unwanted and unneeded expenses that we all tend to have. One of the main issues for a lot of people is that they are always dealing with expenses and some of them are unwarranted.

Impulse buys are maybe a major problem here. What you want to do is to sit on the purchase idea and see if the item in question is a good buy or not.

Don’t rush into that purchase just for the sake of it. Once you do this, you will save a lot of money and reduce unnecessary expenses without major problems.

4. Rent out any spare rooms 

This is a very good way to acquire some extra cash. If you already have a large home and you don’t use it anyways, the best thing that you can do is to rent it out and earn a little bit of money.

It totally helps and it delivers a great set of opportunities without any problems. You will have a constant cash inflow if you rent rooms regularly.

And if the rent you receive is higher than the mortgage payments, you basically don’t have to worry about mortgage costs anymore.

5. Switch to a lower rate mortgage

It’s a good idea to do mortgage rates comparison New Zealand and then see which mortgage rate is lower. Switching to a lower mortgage rate makes a lot of sense and it allows you to focus on getting a much better value every time.

Of course, it will end up being tricky, but it pays off well as long as you have the right amount of patience and deliver great support. Change to a lower rate mortgage if possible and you will be a lot better.

There are different types of rates, such as floating rates and fixed rates. Floating rates will adjust themselves gradually based on various economic factors.

They can be higher, but they can also be lower. On the other hand, fixed rates stick to a certain value, and that can be good or bad. It’s important to study both the pros and cons before you commit, and the results can be amazing!

You can find many lenders that give you lower rates, such as ANZ for example. They have a flexible home loan that gives you amazing value and you should consider checking it out. In the end, it all comes down to studying all mortgage rates and only when you have the right value and quality should you commit to this.


If you want to find the best mortgage rates, we recommend you to use Glimp! This is a great mortgage rate comparison tool and it will help you save a lot of money. If you want to ease the burden and still pay for your mortgage and check it out.

You will be more than happy with the results, so try to give the Glimp tool a shot and you will have no problem finding the best mortgage rates and repaying your mortgage faster. 

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