With record low interest rates now is the most suitable time for Australian mortgage holders to repay their loans or make additional repayments.  Every dollar that you repay at the moment is substantially reducing the loan principal where as with higher interest rates a larger proportion of the repayment is lost to interest.

What’s  more by making additional repayments now you are conditioning yourself to be better prepared financially when interest rates do eventually rise.  Not only are you more used to making the higher repayments but in the case of hardship or unforeseen financial problems your advance payments provide you with a buffer – this can be either in the form of a repayment holiday or redraw those funds for other purposes.

So, now is an ideal time for Australians with a mortgage to pay off their debt as much as possible.


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