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The 3 + 1 secrets to reducing the amount of interest you pay the banks

Written on the 6 July 2017 by James Cagney

(A two minute read)

I am amazed how many mortgage holders have not reviewed their mortgage within the last 12 months.  Most of these mortgage holders are paying far too much interest to the banks and will end up paying double the amount they borrowed in interest.

Many believe it is not that important because their property is growing in value. I have done the maths on a $400,000 home and an initial $300,000 loan over 30 years at an average of 5.5% interest. When the owner sells the property after that period and they have enjoyed a 250% increase in property price they make $155, 585 after interest, costs and fees. The bank makes $313, 415 in interest. What an injustice because we have worked for 20 to30 years to pay off the mortgage and the bank has made more than you have. If you are interested in the numbers I am happy to send you more details. Click >>> NUMBERS or call James Cagney: +61 416 137 645.

Let's look at the Secrets to paying the bank less interest:

1) Interest is calculated on daily balance. The banks are smart. They introduced this so they can make more money out of you. However you can use this tactic against them by ensuring that you have money in your home loan. If you do this you could pay your home loan off five to ten years quicker. Want to know more click >>> DAILY BALANCE

2) Structuring your mortgage correctly will reduce your mortgage faster than just saving a few percentage points in interest rate. Most people are too quick to brag that they negotiated a reduced interest rate on their home loan yet allow the bank to cross collateralize their debts and pay excessive bank fees on multiple accounts and credit cards. Ludicrous - you must realize that the bank officer who arranged your loan works for the bank and not for you. Want to know more about mortgage restructuring click >>> RESTRUCTURE

3) You can turbocharge your home interest payments through other investments. Most people believe that investment property is out of their reach and costs too much money - not realising that these assets reduce your mortgage and can save you thousands of dollars. Using the above example of a $300,000 investing in another property can reduce the interest you pay over the 30 years by $171,650. The longer you wait to do this the more interest you will pay. Want to know more click >>> TURBOCHARGE.

3 +1= (4)  Get on-top of your mortgage and expenses on a daily basis. Frankly I am amazed at the lack of budgeting in many household's today. The frequent use of credit card and Internet direct purchasing has changed our lives significantly.  I speak to families and most have huge credit card debt and rarely are they able to explain the reasons why - besides each partner blaming the other. Our buying on credit is out of control. We offer a Mortgage Management and Budgeting program that will help you keep your debts under control. We then can use the strategies above to reduce the interest you pay on your home loan. If you are interested in this valuable tool that will help you get out of the quagmire of debt click >>> MM & B.

Call James Cagney on +61 416 137 645 for more information and beat the banks at their own game.


This is not financial advice. You should not act solely on the basis of the material contained in this article for your investment strategies. Changes in government and legislation occur frequently and without prior notice and financial markets are unpredictable.
Please note that the information herein is of a general nature only and is not intended as specific advice for any particular person or entity.

This information was written and compiled by James Cagney.  The opinions expressed herein do not necessarily represent the views and opinions of his associates including
Asset Finance Pty Ltd.


Thank you to the resources of Terry Ryder, Property Observer, The ABS, BIS Shrapnel, Michael Matusik, Property Monitors, Colliers, On the House, Corelogic, RP Data, Residex, SQM, Herron Todd White, NAB Residential Property Survey, Australian Bureau of Statistics, Peter Wargent, Port Phillip Publishing, Economy & Markets, Harry S. Dent and the many others for the material discussed above.

Author: James Cagney
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