I have listened to podcast, read articles and heard the news about rising Interest rates, What I was wondering is what Strategies have people used if any to reduce or pay off the capital owing on a mortgage.

Offset, Over paying, getting a better rate.

One thing that has worked for me and my family was reducing the years owed.

I take out a 30 year loan and fix it for 2 years, then I remortgage at the end of the term, but I don't remortgage for 28 years I reduce the term to 25 years, yes my payments increase slightly, but the Interest saved is big in comparison.

25 year term, 2 year fixed leaves a 23 year term, remortgage again for a 20 year term and so on..... Until i have no mortgage.

Downside is i have to remortgage at the end of every term.

Upside is I removed 10 years from my mortgage term in only 5 years as per example.

As I pay off my capital, I can absorb the Increase costs, plus wage Increases etc.

Bank SA have a really good home loan calculator to crunch your own numbers.

https://www.banksa.com.au/personal/home-loans/home-loan-calculators/loan-repayment-calculator

Not saying this is a good strategy, but i can provide security to my family and that is important for me, having grown up in a low socioeconomic environment in the UK.

I am sure we have mortgage brokers amongst us that could give a good insight too.

On a completely unrated topic i just need to say thanks, i am still a long way from being able to provide the knowledge you all place on this forum - but i am a better Investor for soaking up the content you all share.

Cheers