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  • First Home Buyers: Paying off your mortgage quicker


    Nobody wants to be in debt forever, so here are some strategies that could help you pay off your mortgage quicker.


    Sandra’s just muscled out that pesky grey-haired property investor to win the auction, and got the keys to her first place. Congratulations champ! It’s a pretty big deal, so if you’re like Sandra, you’re likely to go through a couple of emotional stages:

    “Damn, I’m such an adult right now”

    “How on earth am I going to repay my mortgage?”

    “YAAAAS, I’m in the property market!”

    Relax! You’ve already planned for this, and worked out a repayment schedule. But nobody wants to be in debt forever, so there are some strategies that could help you pay off your mortgage more quickly: 

    • Make good use of bonuses and tax refunds by making extra repayments. Any little extra here and there could help shorten the life of your loan in the long run, but check your loan terms to find out if any additional fees apply to extra repayments.
    • Get a tenant to share the mortgage load. Did you like your old flatmate so much that you were sad when you left them? Bring them with you, and turn your spare room into a money maker (just don’t push the friendship by renting out a glorified cupboard).
    • Regularly apply a health check to your home loan to make sure it is working well for you. 

    With your plan in place, a feeling of euphoria will wash over you… because you did it, you got your dream home.



    Originally published on



    About the author

    • Raymond

      Raymond A Ram is the RAMbassador for RAMS Financial Group. Raymond works with the RAMS team to bring simple, helpful and expert information on home loans and savings accounts to life with his down to earth and cheeky personality. He enjoys seeing everyday Australians turn their dreams of saving for a goal or getting into a home a reality. 

      Growing up in Goulburn, NSW, Raymond was brought up with good old-fashioned Aussie values of hard work and a fair go. It soon became apparent that Raymond wasn't content for the conventional path of grazing, producing the very best wool, and finding a nice sheep to settle down with. So it wasn't long before his passion for performing and his talent as a likeable larrikin shone through - landing him a few roles such as 'RAMlet'. He was even tipped to play RAM-bo at one point but chose to become star of the small screen instead as RAMbassador for RAMS. He now finds this role so much more rewarding.

      Contact your local RAMS Home Loan Centre about your home loan options.

      Raymond A Ram

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  • Disclaimer:

    The information here is of a general nature only and is not intended to constitute financial or tax advice. You should consult your professional adviser, accountant or taxation expert for advice specific to your personal circumstances.

    The views and opinions expressed in this article are those of the author alone and do not necessarily represent the views or opinions of RAMS Financial Group Pty Ltd ABN 30 105 207 538 (RAMS),  Westpac Banking Corporation ABN 33 007 457 141 (Westpac) or their related bodies corporate. This article is strictly for information purposes only and neither RAMS, Westpac nor any of their related bodies corporate make any representation as to the accuracy or completeness of the information in this article or endorse the views expressed in it.