Good to know
How does paying extra help so much?
Every extra dollar goes straight onto the principal, so you are charged less interest for the rest of the loan. Because interest compounds over decades, even a small regular extra amount can save tens of thousands and shave years off the term.
Can I always make extra repayments?
On most variable loans, yes. Fixed-rate loans often cap extra repayments during the fixed period — check your loan, or ask us and we will confirm what your product allows.
Is a lump sum or a redraw better?
Both reduce interest. A redraw or offset keeps the money accessible; a straight extra repayment locks it into the loan. We can talk through what suits your situation.