Frequently Asked Questions

It estimates how much interest you could save and how many years you could cut off your loan term by making regular extra repayments on top of your standard mortgage payments.

No. The results are based on a constant interest rate and do not include fees or changes over time. For a full picture, speak to a broker.

Extra repayments directly reduce the principal, which in turn reduces the interest charged. This speeds up your loan repayment and cuts total interest paid.

Yes. Most lenders allow flexibility, but it's best to check the terms of your loan. Fixed loans may have restrictions on extra repayments.

Some fixed-rate loans have limits on extra repayments. Variable-rate loans are typically more flexible. Your broker can confirm what applies to you.

If you're using an offset account, extra funds reduce interest without paying down the loan directly. With redraw, extra payments reduce the balance but can often be withdrawn if needed.

It depends on your needs. Both reduce interest, but an offset provides more flexibility. A broker can help you weigh the pros and cons.

You can usually set this up through your lender’s app or internet banking. Or, speak to your broker to structure your loan to suit your repayment goals.