How to Pay Off Home Loan Faster in New Zealand?

Best way to pay off the loan is one of the top questions, people normally ask fina financial adviser. It is really hard to answer straightforward without knowing his or her financial circumstances. Many people find themselves in financial difficulty when paying off their home loans. It is essential for you to know how to save cash and clear off your mortgage faster. Recently, we meet to Ajay Kumar and ask this question. Ajay Kumar is a director of Global Financial Services. According to recent awards, they are one of the leading mortgage brokers agency in Auckland, New Zealand. Ajay told us, “The simplest way of paying off your loan quickly is to make regular loan repayments which are higher than standard 30-year loan repayments you make, so each loan repayment reduces your borrowed loan amount quicker.” The starting point for a quick repayment plan is to analyze your budget.Your budget will offer you a fantastic measuring tool for your current position as well as your future. You can use these tips to enable you to settle your house debt.

Check out best ways to pay off a loan faster in New Zealand :

Extra payments
It is very important & handy way to pay off faster. If can do some extra saving, just pay bit extra loan payment. You should make small, regular addition payments. With time, these small amounts of money will all add up to a significant amount. By squeezing a little cash from your monthly earnings, you can add it to your loan repayment to ensure that you clear it off sooner.

Higher repayments
I understand that it is hard to pay higher repayments. However, if you organize your lifestyle, you might be capable to repayments bit higher. Set your monthly loan repayment limit higher than your bank’s minimum monthly installment. If you have a long variable mortgage, you’ll realize that your repayments have dramatically reduced. If you continue to repay the same amount for about two years, you would be better on your way to clear the mortgage.

Adopt a saving strategy
Many financial analysts claim that adopting a good saving strategy can be the best way to pay off a loan faster. Owning a home is a great project that needs the family head and even members to save and pool together their funds settle the loan fast. Your family can contribute by saving on household expenses or energy consumption which they can add to their home loan payment.


Have an offset account for your home loan
You should ensure that you operate your offset account for your home loan. There’s no any other place for interest to channel this money into your home mortgage, the amount of cash you will save upon clearing your credit off earlier can be many thousands.


Introduce lump sum tips
Have some occasional lump sum payments to finance your mortgage. When you earn a bonus from your workplace, get a tax refund or even a little inheritance, these savings can reduce your loan balance and save much on interest. In New Zealand, most mortgage brokers agency help you out to introduce lump sum tips for paying loan quicker.

Loan review by a mortgage broker
It can be the best way. If you re-structure your re-fix you loan, you might get a good way to repay loan quicker. Find your mortgage broker. Your living conditions when you were buying the home may be different and may need to review the contract to fit your current situation. For example, you may want to set a fixed rate or split your loan, or maybe you’ve recently had a kid and shifted to a single income, perhaps you got another job with a higher earning capacity.All of them affects your mortgage repayment schedules.

Dedicate yourself towards loan repayment
Moving from monthly to fortnight repayment patterns is the most effective mortgage reduction strategy, by paying this way you will make a total of thirteen monthly installments over a year, resulting to one month’s other payment every year.

Refinance your loan
Another fantastic way is to refinance your mortgage using a cheaper lender. If your current lender charges 6% interest, you can refinance with another lender, for example, a lender who charges 5% interest to refinance your mortgage. Also, when you consider renewing your loan, you may be able to benefit from the lower interest rate, thus saving some money.

According to our recent research, we found 35% New Zealander are struggling to repay their loans quicker. There are many reasons behind that. In this blog, I am going to point out some common mistakes while repaying mortgage mistakes.

Some Mistakes you may make when repaying your mortgage include:

Ignoring your credit ScoreThis rates your creditworthiness to indicate your trustworthiness for the banks in loan matters. If you maintain a good score by honoring your contract while repaying your mortgage, it will give you favorable deals when negotiating for better loan terms. You must take care of your credit score. If you face lower credit score, you may work out to improve bit higher. According to expert, above 700 out of 1000 can be good credit score

Applying for extra Loans -By simultaneously taking other loans while repaying your home mortgage, for example, personal loans will make you look ‘Credit Hungry’ and banks will blacklist you as a financial risk. If you want to pay your loan, you may try to refinance options. Most of the Banks or private lenders allow refinancing your existing mortgage or home loans.


Failure to planMany borrowers may set their monthly home loan installments higher that they cannot after considering their income and expenses. It is advisable to budget yourself financially before deciding your repayment amounts.

Inconsistency in repayment patterns- Sometimes borrowers may fail to pay off some of their monthly installments which can be very dangerous as its one way of bridging your contract and can lead to unfavorable consequences.

Late payments –In some cases, some borrowers are not keen on the payment schedule as they don’t usually have good strategy always to remember their repayment date.If possible, you can include this date in your diary to ensure you pay on time.


  • Jason Ray says:

    Thank you for any other wonderful post. The place else may anybody get that type of information in such an ideal way of writing? I’ve a presentation next week, and I am at the look for such info.
    This type of financial information helps me a lot to learn. Cheers

  • Becca luna says:

    Wow, excellent content. I have learned many things regarding paying off mortgage fasters. i have few questions:
    can I apply for remortgage in New Zealand?
    Kind Regards, Luna

  • Musa says:

    I hope you all are having a good weekend. I recently visited your website and found some of the excellent resources on Financial matters. Can you add bit more article on property investment?

    Many thanks

  • Ricaldo says:

    Hi Admin,
    I have one question. I live in South America. I want to buy my first home in New Zealand. Can you suggest a good Lawyer & real estate agent in New Zealand?

    Kind Regards,

  • Ammy says:

    I would like to give thanks to website admin to provide excellent resources on First Home Buying process. It is really helpful to invest in New Zealand. Thanks

  • Jane says:

    Thanks for excellent resources on Home & Business loan process.

  • Clarno says:

    I hope you all are having a great weekend. I was looking for property news in New Zealand / Australia. i believe that you guys listed some of the excellent resources for paying off home loan faster

  • Craig says:

    Excellent tips & tricks to pay off my home loan quicker. Can you write new blog based on mortgage rates and refinancing technique? Cheers

  • Mark says:

    I hope you all are having a great weekend. It is my pleasure to read your blog on a regular basis. You financial consultancy & tips must help me to pay off my home loan faster. Cheers

  • patentee says:

    Yoս actually maҝe it seem so easy with your presentation but I find this
    matter to be reallу something which I think I would never understand.
    It seems too complicated and extremely broad for me. Ι’m looking forward to yoᥙr next post, I wiⅼl try to get the hang of it! Can you please explain present New Zealand real estate business? Is it the right time to do property investment in New Zealand. Can I purchase a home within 10% deposit? Please let me know present mortgage rates and how to pay off my home loan quicker in New Zealand. Cheers

  • Peter says:

    Hi there, thanks for your great resources on paying off home loan faster in New Zealand. It gives me the extinct knowledge to pay off my loan. Can you post this type of resources on regular basis? Kind Regards

  • Shan says:

    Hi there, I was looking mortgage term online and found you guys website. To be honest, you guys pointed excellent resources for paying off a mortgage faster. It can be excellent to restructure our mortgage and plan to mortgage free soon. Can you write few articles for business and commercial loans as well?

    Shan Protz

  • Aliviar says:

    Thanks Admin. Your excellent & informative article guide me to pay off my house loan bit quicker in New Zealand. Regards

  • Jane Lee says:

    Thanks for your outstanding information regarding paying off a loan faster in New Zealand or Overseas. I have a question to you. I am an Australian Citizen and live in Canada. I have a home loan in Australian and planning to get a new home loan in Canada. What is your recommendation about two mortgages? Should i pay off one mortgage first or i may apply for new loan?


  • Johnston says:

    Incredible! This blog looks exactly like my old one!
    It’s on a completely different topic but it has pretty much the same page layout
    and design. Great choice of colors!

  • Richard says:

    I absolutely love your blog and find nearly all of your post’s to be
    just what I’m looking for. Does one offer guest writers to write content to suit your
    needs? I wouldn’t mind producing a post or elaborating on some of the subjects you write related to here.

    Again, awesome website!

  • Ben William says:

    Great beat ! I would like to apprentice while you amend your web site,
    how could i subscribe for a blog website? The account aided
    me a acceptable deal. I had been a little bit acquainted of this your
    broadcast provided bright clear concept

  • mine craft says:

    Wonderful article! We are linking to this great post on our website. I strongly believe that this type of informative article can help people to pay off home or business loan faster.

    Keep up the good writing. Regards

  • Hamesh says:

    Woah! I’m really enjoying the idea or finance matters of this blog. It’s simple, yet effective. A lot of
    times it’s tough to get that “perfect balance” between usability and
    appearance. I must say you have done a amazing job with this.
    In addition, this financial blog loads super fast for me on Opera.
    Exceptional Blog! Thanks to writing excellent & knowledgeable content on personal or business loan.

  • Janin says:

    I pay a quick visit day-to-day a few sites and information sites to read content, but this webpage offers feature based content especially on financial issues. I strongly believe that your idea and tips can help people to pay off a home loan faster in New Zealand or another country.

  • Cristina says:

    It is actually a nice and useful piece of information in terms of mortgage & real estate news. One of my friends recommended this blog to learn ways to pay off the loan faster. Thanks, blog admin. Please add more blogs & real-life case study. If possible please add discussion option regarding mortgage or property news. Last but least,
    I’m glad that you just shared this helpful info with us.

  • Helaine says:

    Thanks, admin to managing an excellent blog on the finance industry. I have learned a lot regarding paying off a home loan faster. I don’t even know how I ended up here, but I thought this post was great. I don’t know who you are but certainly you are going to a famous blogger if you are not already 😉

  • Beliga says:

    Excellent blog. It is really helpful to learn ways of paying off your mortgage faster. Thanks

  • Miner says:

    Great beat ! I wish to apprentice while you amend your website, how can i subscribe for a blog
    site? The account aided me a acceptable deal. I had been tiny
    bit acquainted of this your broadcast provided bright clear idea

  • Rene Bucklin says:

    My brother suggested I might like this website. He was
    entirely right. This post truly made my day.
    You cann’t imagine just how much time I had spent for
    this info! Thanks!

  • Raulsch Wing says:

    I really like it when people come together and share thoughts.
    Great blog, keep it up! Can you please write bit content on property investment in Auckland? Cheers

  • Erick Castello says:

    Superb, what a blog it is! This blog provides helpful data to us, keep it up. Can you please write few contents on business loan as well.

  • Francis says:

    There is certainly a great deal to know about
    this topic. I love all of the points you’ve made. Cheers mate

  • Elenas says:

    Pretty! This has been an extremely wonderful post. Thanks for
    supplying these details.

  • Houston says:

    I simply couldn’t leave your site prior to suggesting that I really enjoyed the
    usual info a person provide in your visitors?

    Is gonna be again incessantly in order to inspect new posts

  • Maggie says:

    I visited multiple websites however the audio quality
    for audio songs present at this website is genuinely excellent.

  • Priscil says:

    I loved as much as you will receive carried out right here.
    The sketch is tasteful, your authored material stylish.

    nonetheless, you command get got an nervousness
    over that you wish be delivering the following.
    unwell unquestionably come more formerly again as
    exactly the same nearly very often inside case you shield this hike.

  • Jorja says:

    Good post. I learn something new and challenging on blogs I stumbleupon everyday.
    It’s always useful to read through articles from other authors and use
    something from their sites.

  • Genevieve says:

    It is really great to know the tips & tricks for paying mortgage a bit faster. Thanks, blog writer for your outstanding content. Cheers

  • Luisa says:

    I am in fact grateful to the owner of this web
    site who has shared this fantastic piece of writing at here.

  • Ilse says:

    bookmarked!!, I like your blog! Can you please write about insurance services. For example, mortgage protection insurance. Cheers

  • Veronique says:

    I got this web page from my friend who shared with
    me on the topic of this website and now this time I am browsing this web
    site and reading very informative articles here.

  • Modesto says:

    It’s a shame you don’t have a donate button! I’d certainly donate to this superb
    blog! I guess for now i’ll settle for book-marking and adding your
    RSS feed to my Google account. I look forward to
    fresh updates and will talk about this site with my Facebook group.
    Talk soon!

  • Lidabluud says:

    I like the valuable info you supply on your articles. I will bookmark your weblog and take a look at once more right here frequently.
    I am slightly certain I’ll learn much new stuff proper right here!
    Good luck for the next!

  • kunstnagels breda says:

    Hi there are using WordPress for your blog platform?

    I’m new to the blog world but I’m trying to get started and create my own. Do
    you need any html coding knowledge to make your
    own blog? Any help would be greatly appreciated!

  • Allen says:

    Very good article! We are linking to this particularly great article on our site.
    Keep up the great writing.

  • David says:

    Is it really possible to pay off a mortgage faster without increasing installments? Many brokers claim that they can help, but I do not know much regarding their strategy.

  • hoger says:

    It’s impressive that you are getting thoughts from this
    article as well as from our dialogue made at this place.

  • Hyden says:

    Thanks for writing content on a home loan. It helps me a lot to learn real ways to pay off loan faster. Cheers

  • Dice says:

    Wow, superb blog format! How long have you ever been running a blog for? you make running a blog glance easy. The whole look of your site is magnificent, as well as the content material!

  • Diccy says:

    I blog quite often and I truly thank you for your content. This great article has truly peaked my interest. I will take a note of your site and keep checking for new information about once a week.

  • Carry Ben says:

    Your post is extremely cool. I glad to be here. I enjoyed reading your articles. Thanks and keep up the good work! Could you please write a bit about life insurance as well.

  • Ellordeds says:

    Good article. I have a question to blog admin. Is this concept only application in New Zealand? Is it still workable in Europe as well? Please let me know.

  • Youdmir says:

    Excellent article on paying off home loan faster in New Zealand. I strongly believe that a proper loan structure can help to pay off the mortgage quickly. Cheers

  • Eva says:

    Good trips & tricks on pay off home loan faster in New Zealand. Is it applicable to overseas as well? Thanks

  • Bicky says:

    Nice & well content on pay off a mortgage faster in New Zealand,

  • suba suba says:

    Can I follow the same strategy for paying off a loan faster in Australia? Cheers

  • ayurvedu says:

    Thanks for sharing the article regarding pay off a mortgage faster in New Zealand, this is a fantastic blog.Really looking forward to read more. Great.

  • Bevnuna says:

    You could certainly see your expertise within the work you write.
    The sector hopes for more passionate writers like you who
    are not afraid to say how they believe. At all times
    follow your heart.

  • Kelly says:

    Hello, yeah this post is actually good and I have learned a lot of things from it regarding blogging especially paying off home loan faster in New Zealand.

  • Marcello says:

    Hi there every one, here every one is sharing these kinds of experience, therefore it’s fastidious to read this blog, and I
    used to go to see this blog all the time. Nice blog indeed 🙂

  • Teri says:

    There’s certainly a great deal to know about this subject.
    I love all the points you’ve made regarding pay off a home loan in New Zealand. Please write couple of blogs regarding commercial loans.

  • Umar says:

    Excellent content on paying off the mortgage. Could you please write more blogs on insurance matters especially Life Insurance? Cheers

  • Evan says:

    Excellent blogs on paying off home loans faster in New Zealand. Could you please write more blogs regarding financial matters? Cheers

  • Melvin Kneem says:

    Great content on paying off the mortgage faster in New Zealand.

  • Yamini says:

    Good article on paying off mortgage faster in New Zealand

  • Calli says:

    Excellent blog on the home loan’s paying off options.

  • Vikash says:

    Thanks for writing an excellent blog on paying off the mortgage faster in New Zealand. Are this tips & tricks still applicable in Australia as well?

  • Carl Handy says:

    Hi my friend! I wish to say that this article is awesome, nice written and include approximately all vital infos. I would like to look extra posts like this .

  • Jason says:

    Thanks for writing an excellent blog about paying off a mortgage faster in Auckland. Cheers

  • Brandie Berniche says:

    Excellent blog. I believe that your blog can be handy for a first home buyers or property investments.

  • Talie Che says:

    Thanks for sharing awesome tips on paying off a mortgage faster. Cheers

  • Jack Arran says:

    Excellent post on financial articles. Please write some blogs on insurance as well. Cheers

  • Kevin Mitchell says:

    Paying off mortgage faster can be a great way to own your home. Cheers

  • Alice Hay says:

    Thanks for sharing the pay off the mortgage faster in New Zealand.

  • Oren Stainforth says:

    Thanks for sharing ways to pay off home loan faster in New Zealand.

  • Duane Leta says:

    Thanks for finally writing about to Pay Off Home Loan Faster in New Zealand?
    – Mortgage Broker Reviews

  • Carmon Hay says:

    I have learned several good stuff here. Definitely value bookmarking for revisiting.
    I surprise how a lot effort you put to make the sort of great informative website. Thanks admin

  • Daren Markes says:

    Hi there, I discovered your blog by way of Google. Handy tips for property investors. Cheers

  • Hamid Karjay says:

    Excellent blog on paying off home loans quicker. Is it applicable in Iran as well?

  • Moussa Hei says:

    It is really important to structure a home loan for paying off faster. Thanks to Global Finance for helping thousands of clients in New Zealand.

  • Rod Mullar says:

    Very great post. I just found your blog and wished to say that I’ve truly loved browsing your blog posts. Regardless I’ll be subscribing for your feed and I really hope you write again soon! I would like to see an adviser from Global Finance. Can you help me? Please

Leave a Reply

Name (required)

Email (required)