Paying off your home loan doesn't need to take a lifetime. We've got some tips to reduce your loan term, and pay off your mortgage sooner.

1. Increase repayment frequency.
If you get paid fortnightly, synchronise your loan repayments to when you get paid. Paying fortnightly instead of monthly will mean you get in some extra repayments in over the year, which means you'll cut down on interest and help you build equity faster.
2. Round up your repayment figure.
If your home loan allows you to, make voluntary repayments that exceed your minimum required amount. Even if this is just a small amount extra like an additional $10 or $20 to round your repayment up to an even figure, it will help you get ahead on your loan term.
3. Make lump sum repayments.
Adding lump sums repayments to your mortgage can cut years off your home loan, so consider putting any large sums, such as a healthy tax refund or work bonus, straight into your mortgage.
4. Review your loan regularly.
The smallest of changes in interest rates or repayment amounts can add or save you thousands of dollars over the life of your loan, so it’s important to review your loan at regular intervals, particularly if your circumstances change. 

Have a chat with your loan manager to see if you may be in a position to refinance. 
5. Avoid unnecessary fees.
Be sure to understand the actions that will incur a fee from your lender and take the necessary steps to avoid them. For example, if you don't pay via direct debit, you may incur a fee. Contact your loan manager to discuss what extra fees you may be paying, or view our full fees and charges here.
6. Start budgeting.
Buying a coffee every day can add up to around $100 a month. Reduce how much you spend on sundries each week and redirect the money into your home loan instead.

A couple of dollars a week can potentially save you thousands during the life of your loan, so make a budget and stick to it.