Mortgage Shrinker benefits
By doing this, you can overpay your monthly payments with savings that you make that month – any savings above your regular payment are offset against the remaining debt, reducing the interest charged by the mortgage.
In turn, a mortgage shrinker leads to more benefits:
- With reduced interest being charged due to the offset savings, the monthly payments decrease in size.
- This leads to savings each month likely being larger.
- The monthly interest charges are again smaller.
And the cycle continues to lead to early repayment of the mortgage, possibly saving a considerable amount of money when compared to normal mortgages. A mortgage shrinker deal can thus help make all your money work for you towards repaying the mortgage loan.