1. compare the interest rate to other lenders' rates and fees
2. contribute extra to the loan by paying fortnightly instead of monthly, or making the loan a partial offset.
3. repay the mortgage as if its interest rate are two percentage points higher. This encourages a good savings habit and prepares for likely rate increases
4. List expenses and work out where expenses can be cut so more can be contributed to the mortgage.
For borrowers, especially those with multiple mortgages, it's important to give your borrowings a health check and see if there are savings to be made and if you can reduce the life of your loan. or if you're struggling financially, refinancing the loan and extending the term of the loan may just give you the relief you need."