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Home Loans
Ways to Pay your Home Loan sooner
Nearly everyone who has a Home Loan wants to pay it back as soon as they can. It is with a great sense of achievement that someone finally rids themselves of their mortgage. With our help we hope that many of our borrowers can achieve that goal sooner.
We understand that different people will prefer different options so we have come up with quite a few of them. From the simplest ways to the most complex, you'll be able to see how they work and what they can save you.
It's then up to you to get started!
Option 1 - Use a Loan Saver Account
By having a Standard Variable rate loan with the Greater you don't pay any monthly account keeping fees on your loan and are entitled to an Access Savings Account with us that is completely free of any excess transaction fees.
It costs nothing to also set that account up as a Loan Saver arrangement. By doing so, interest earned on your savings if offset against the interest you pay on your home loan.
This may also save some money at tax time as instead of having to declare the interest you may have earned on your savings as income, you don't have to declare the offset interest you earn.
Setting up a Loan Saver arrangement is as easy as filling out a form. Saving yourself a tidy sum of interest may be that simple.