How extra payments affect your home loan

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Most home loans are structured as an access bond, which means that, when you pay in extra money, it reduces the interest you pay on your mortgage and also leaves funds available for you to withdraw.
Most home loans are structured as an access bond, which means that, when you pay in extra money, it reduces the interest you pay on your mortgage and also leaves funds available for you to withdraw.

PERSONAL FINANCE

If you are confused about how advance payments to your home loan work, you are not alone.

With lockdown, many people are checking their finance agreements in an effort to take control of their finances.

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